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The old tax regime offers more deductions and exemptions compared to the new tax regime, making it a preferred choice for individuals who can take advantage of these benefits. Additionally, the Budget 2025 introduced changes in tax slab rates. The applicable tax slabs under the old regime are as follows:

Old vs new tax regime: As the financial year has ended, taxpayers will now begin gathering their documents to file their income tax returns (ITR) before the deadline of July 31, 2025. Just like ...

Under the old tax regime, taxpayers can claim various deductions and exemptions, while the new tax regime does not offer much deductions.

Both the old and new tax regimes have advantages and disadvantages, but the New Personal Tax Regime is the best option for taxpayers making up to Rs. 12 lakhs per year since it provides a full refund in line with the changes made to the new tax regime in the 2025 budget.

Is there any difference in standard deduction under both the regimes? Yes, the standard deduction under the old tax regime is ₹50,000, whereas, in the new tax regime, it is ₹75,000.

FY26 has brought with it several tax changes – the biggest one of them being the huge sweetener in the new income tax regime. This, along with major capital gains tax changes announced in July 2024 mean that you need to look at your financial planning with a new tax lens.

Check the table below for details. The main difference between the old and new tax regimes is that under the new tax regime, you cannot avail of deductions such as 80C, 80D, and 24B. While you can ...

Give details of exemptions which are not allowed in the new regime such as HRA under section 10 (13A); also provide if you have income other than salary. Give details of other deductions allowed ...

The old tax regime in India represents the conventional taxation system that offers taxpayers a range of deductions and exemptions to lower their taxable income. These benefits cover investments in tax-saving instruments such as the Public Provident Fund (PPF),

Mumbai: With the start of the new financial year 2025-26, salaried individuals are once again facing the common dilemma — which tax regime to choose: old or new? Employers are asking for ...

The revisions introduced under the new tax regime is aimed to make the new regime easier, cut down on paperwork, and minimise the confusion many individuals experience in filing their returns.

So, if your employer deducted taxes based on the old tax regime, you can still shift to the new regime when filing your ITR—and vice versa. The tax department put you in the new regime if you do ...

Filing your Income Tax Return (ITR) in 2025? If you're wondering whether you can shift between the new and old tax regimes, you're not alone. The ability to switch depends on your source of income ...

There are two types of income tax slabs - one under new tax regime and other under old tax regime. What is the difference between gross income and taxable income? Gross income includes all your ...

As the financial year 2024–25 gets underway, taxpayers must decide between the new and old ... year is whether to opt for the old tax regime or the new tax regime. The right choice depends ...