then the old regime is beneficial. These comparative charts and examples suggest that, as a thumb rule, a tax payer having a salary of Rs 15 lakhs or above and eligible to claim deductions/exemptions ...

53,960 under the Old Regime, leading to a savings of ₹1,41,960. Similarly, at ₹20 lakh, the New Regime reduces the tax burden ...

D (health insurance), and home loan interest are just a few of the many exemptions and deductions that were available under ...

"The previous tax regime, known as the old regime, was in place before the new ... 15 lakh in 2024-25, would have paid Rs 1,30,000 as tax. From April 1, 2025, he will pay Rs 97,600. For Rs 20 lakh ...

With Budget 2025 making income up to Rs 12 lakh tax-free under the new regime, salaried taxpayers are weighing the benefits ...

While both the old and new ... tax rate for specific tax slabs, the old tax regime has enough room for claiming deductions under Chapter VI-A against various allowances forming part of salary ...

“Choosing old or the new tax regime mainly depends upon how much deductions and exemptions are available with you. Upto a salary of ₹12.75 lakhs, you can go with the New Tax Regime (NTR ...

With no income tax ... Rs 24 lakhs. This means significant savings for middle-class earners. For example, those earning Rs 15 lakh, are set to 25% more under New Tax Regime over the Old Tax ...

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

15 lakhs, which can reduce their tax burden.Income tax rates applicable for individuals aged between 60 and 80 years who are senior citizens. To calculate income tax as per the old income tax slab ...

The new tax regime now offers a full tax rebate on income up to ₹7 lakhs ... salary, home office setup, internet, books, and periodicals. These reimbursements are tax-free under both the old ...