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Compare the tax benefits and drawbacks of the old and new tax regimes for salaried individuals in India. Learn about the latest changes in tax slabs, deductions, rebates, and exemptions introduced in budget 2025.

Tax. Old Vs New Tax Regime: What Should Salaried Individuals Know Before Planning For FY2025-26. The term ‘new tax regime exemptions and deductions’ is being widely searched wherein taxpayers want to know what is left, and the answer is, not much. Read to know what deductions are available under the new regime and how to decide which regime ...

Learn the difference, advantages and disadvantages of new and old tax regimes for individual taxpayers in India. Find out how to choose, opt out and claim deductions under both regimes.

Unlike the old regime, the new tax regime allows limited deductions and exemptions. However, a few key benefits are still available to salaried individuals and employers, as outlined below: Standard Deduction: Rs.75,000/- is available to all salaried individuals (as per Budget 2025 amendments).

Learn the differences, advantages and disadvantages of new and old tax regimes for individual taxpayers in India. Find out how to opt for or opt out of the regimes, and what deductions and exemptions are available in each regime.

Learn the differences between the new tax regime and the old tax regime in India for FY 2025-26. Compare the tax rates, exemptions, deductions, and benefits of each regime and choose the best option for your income and needs.

Compare the tax rates, deductions, and exemptions of the old and new tax regimes in India. Learn about the changes and incentives announced in the Union Budget 2023 and 2024 for the new tax regime.

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. Speaking to CNBC-TV18, Mayur Shah, Tax Partner at EY India, and Mohit Gang, Co-Founder and CEO of Moneyfront, broke down ...

The Old Tax Regime is the traditional income tax system in India, which allows taxpayers to claim various deductions and exemptions to reduce their taxable income. These include popular benefits such as: Key Features of the Old Tax Regime. Deductions: - Section 80C: Investments in PPF, ELSS, NSC, etc. (up to ₹1.5 lakh). - Section 80D: Premiums paid for health insurance.

The new tax regime has arrived, replacing the old labyrinth of exemptions and deductions with a cleaner, more direct approach. Sounds good? Well, not so fast. It’s not a one-size-fits-all solution. For taxpayers, choosing between the old and the new is tricky. Each system offers different benefits.

Old Tax Regime Vs. New Tax Regime which one to choose for Financial Year 2025-26 i.e. Assessment Year 2026-27? Summary: The decision between the old and new tax regimes for the Assessment Year 2026-27 largely depends on an individual’s income structure and eligibility for various exemptions and deductions. The old tax regime allows a wide range of deductions, such as standard deductions, HRA ...

The new tax regime and the old tax regime differ primarily in terms of tax rates, exemptions, and deductions: - New Tax Regime:Lower tax rates with simplified slabs. No major deductions or exemptions (e.g., Section 80C, 80D). Standard deduction of ₹75,000 for salaried individuals.

Income Tax Old Regime vs New Regime: Example Scenarios Income = ₹13 Lakh (Salaried) New Regime: Likely zero or very minimal tax after the standard deduction (₹75,000) since ₹12.75 lakh is tax-free. Old Regime: Could match or beat new regime only if you have large deductions (e.g., total ≥ ₹2–3 lakh in 80C, HRA, etc.).

The old tax regime allows taxpayers to claim various deductions, such as those under Section 80C (for investments), Section 80D (for insurance), HRA (House Rent Allowance), LTA (Leave Travel Allowance), and home loan interest, significantly reducing the taxable income. Conversely, the new tax regime eliminates most of these deductions, offering only a ₹75,000 standard deduction for salaried ...

The Finance Act 2023 has made the new tax regime under Section 115BAC the default tax regime for individuals, HUFs, AOPs (excluding co-operative societies), BOIs, and Artificial Juridical Persons from AY 2024-25 onwards. However, taxpayers still have the option to opt out and choose the old tax regime.

If you annual income is around Rs 20,00,000 (Rs 20,75,000 for salaried individuals), the new tax regime will be beneficial over the old tax regime. Not considering HRA (House Rent Allowance) benefit, which is only available in the old tax regime, a taxpayer's liability on income of Rs 20 lakh will be Rs 2,40,000 under the old tax system.

In the new tax regime, most deductions cannot be claimed, barring the deductions given under sections 80CCD(2)/ 80CCH and 80JJAA as per the provision of Section 115BAC of the Income Tax (I-T) Act ...

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 ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the middle class in the Union Budget 2025, eliminating ...