With Budget 2025 making income up to Rs 12 lakh tax-free under the new regime, salaried taxpayers are weighing the benefits of switching from the old regime. In this explainer, tax expert Gaurav ...

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits popular tax deductions and exemptions ...

Income tax return (ITR) filing season is back and the taxpayers have two more months to go for filing their tax returns ...

As many as 33 per cent selected the wrong tax regime. Among them, 86 per cent should have switched from the old to the new regime, while the rest would have gained by opting for the old regime.

According to rules, salaried individuals can switch regimes annually, while business professionals can do so only once, and ...

Since the government brought the new tax regime into effect in 2020, taxpayers have a choice of opting between two systems: the old regime of deductions and exemptions, and the new regime with ...

Leave Travel Allowance (LTA) is a common perk in many salary packages, yet with two tax regimes in place, people often ask if ...

The new tax regime from FY 2025-26 offers zero tax on incomes up to Rs 12 lakh, making it an attractive option for many.

The decision between the old and new regime depends on available deductions and exemptions. If the assesse has deductions and ...

This can be done by eliminating the deductible allowances, such as House Rent Allowance (HRA), Leave Travel Allowance (LTA) ...

The Income Tax Department’s latest updates to ITR-1 and ITR-4 for Assessment Year 2025–26 have sent a clear message—claiming ...

Finance Minister Nirmala Sitharaman introduced new income tax regime changes in Budget 2025, featuring revised tax slabs for ...