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MSN · Jul 30, 2024

Latest income tax slabs and rates in new, old tax regime for FY 2024-25 (AY 2025-26)

It is important to note that the changes in the income tax slabs under the new tax regime are effective from April 1, 2024, i.e., for the ongoing fiscal year, 2024-25 ... with the old tax regime.

The Times of India on MSN.com · Jul 23, 2024

Latest income tax slabs FY 2024-25: What are the new income tax slabs, rates after Budget 2024 announcements? Check full details, FAQs answered

Latest income tax slabs FY 2024-25: Finance Minister Nirmala Sitharaman has changed the income tax slabs effective FY 2024-25 under the new income tax regime as announced in Budget 2024.

The Financial Express · 11d

ITR Filing FY 2024-25: Old vs New Tax Regime – Which one saves you more?

Under the new tax regime, individuals with annual income up to Rs 7 lakh can avail a rebate under Section 87A, meaning they won’t have to pay any tax.

Indiatimes · Jul 23, 2024

Latest Income Tax Slab and Rates - FY 2023-24 | AY 2024-25

No alterations were made to the old tax regime for FY 2023-24 and FY 2024-25, with its slabs, rates, and deductions remaining consistent. The old regime also maintains varying basic exemption ...

Goodreturns · 26d

How Much Will You Save Under The New Tax Slabs? A Salary-Wise Breakdown For New Tax Regime

A number of changes pertaining to income tax slabs under the new tax regime go into effect on April 1, 2025 (FY26), as mentioned in Budget 2025. The maximum tax rate of 30% would be applied to income beyond Rs 24 lakhs under the new tax regime with revised slabs that is proposed for FY 2025–2026 onward.

Income tax: 4 key reasons to choose the old tax regime over the new tax regime

Income Tax: The financial year 2024–25 has come to ... Some are drawn to the lower tax slabs offered by the new tax regime, while others prefer the old tax regime for the deductions and ...

India Today on MSN.com · 3d

New Income tax regime: Why is it more beneficial for salaried employees

The new tax regime also offers a higher standard deduction. Last year, it was raised from Rs 50,000 to Rs 75,000 for salaried employees. In the old regime, the standard deduction remains at Rs 50,000.

The Financial Express · 13d

Filing ITR soon? Can you still pick a different tax regime?

However, there’s a crucial caveat. This flexibility to change regimes is only available if the ITR is filed on or before the due date. If a taxpayer files a belated return—after the deadline—the ITR will be filed only under the new tax regime. The income tax portal will not allow a switch to the old regime in such cases.

Confused between old and new tax regimes: Here are key factors to help you choose before filing your ITR

The standard deduction under the old tax regime is ₹50,000, while under the new tax regime, it has been increased to ₹75,000 for FY 2024–25. What can you claim and not claim under the new ...