Choosing the right income tax regime is crucial for ITR filing. Salaried taxpayers can choose between the new and old regimes ...

As the deadline to file Income Tax Returns (ITR) for Assessment Year 2025-26 (FY 2024-25) approaches, many taxpayers are ...

On ET Now, experts compare the old and new tax regimes, highlighting the benefits of the new system. The new tax regime offers lower tax rates but eliminates most deductions and exemptions.

In one fell swoop, Nirmala Sitharaman, during Budget 2023 today, changed the old income tax regime, making it more simplified. Here’s how the two regimes differ from each other ...

If you are availing exemptions or deductions under the old tax regime, the new tax regime may lead to a higher tax outgo. Written by PF Desk March 2, 2025 17:15 IST ...

If you’re a salaried employee with no business or professional income, you have the flexibility to choose the tax regime ...

The new regime. The new tax regime offers lower tax rates but with fewer deductions and exemptions. Here, taxpayers cannot claim various popular deductions under Sections 80C, 80D and 24.

"Opt for the new tax regime if your income is above Rs 825,000," adds Wadhwa. Taxpayers who avail of deductions under Section 80C, Section 80D, and Section 24 (interest on housing loans) should ...

Old Vs New Tax Regime Slabs and Rates Comparison: With no income tax burden for income levels up to Rs 12.75 lakh, a large section of salaried taxpayers stands to benefit.

While the new tax regime has simplified tax structure with lower rates, the old tax regime provides several deductions like under Section 80C, Section 80D, House Rent Allowance (HRA) and so on.

Old Tax Regime vs New Tax Regime: Take-home salary. As per the BankBazaar's calculations, a taxpayer with taxable income of Rs 15 lakh, will pay Rs 1.09 lakh as tax under New Tax Regime 2025 as ...