Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.

In this article, we will dive deep into both tax regimes - Old Tax Regime and New Tax Regime. The write-up will explain ...

If you're planning to file your Income Tax Return (ITR) for the financial year 2024–25, it's crucial to understand the ...

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

Salary income: The standard deduction of INR 75,000 will continue for new regime taxpayers, compared to INR 50,000 under the old tax regime. The new tax regime provides a total rebate of INR ...

Old vs New Tax Regime, ITR Filing: Selection between the old and the new tax regime while filing the income tax return (ITR Filing) is as tough as selection between identical right and wrong paths ...

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

There will be no income tax payable upto income of Rs 12 lakh (i.e. average income of Rs 1 lakh per month other than special rate income such as capital gains) under the new regime. This limit ...

Though the new income tax regime will feature revamped tax slabs from April 1, 2025 onwards, the old regime offers a slew of deductions and exemptions. The new income tax regime will feature the ...

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 ...

If they fail to declare their preference for the old tax regime, taxes will automatically be deducted under the new regime. This development necessitates an understanding of when and how ...

The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. Union finance minister Nirmala Sitharaman’s announcement was met with much cheer and enthusiastic number-crunching ...