Notably, with the amendment to section 115BAC of the Income Tax Act as effective from F.Y. 2023-2024 [A.Y. 2024-2025], the new tax regime is made as a default tax regime for persons other than ...

According to the Budget document, the government will provide rebates to those earning up to Rs 12 lakh ... Should You Switch From Old To New Tax Regime? The decision on whether you should opt for the ...

The Old Tax Regime requires tax planning, as taxpayers must invest in specific financial products to claim deductions. In contrast, the New Tax Regime is simpler, as it does not require tracking ...

"Improved rebates, modified tax structures and ... of years to encourage taxpayers to transition from the old to the new tax regime," he said. "The rates under the new tax regime are lucrative ...

While the old tax regime offers numerous benefits, the new tax regime introduced simplifies ... are exempt from paying income tax via a mix of rebates and revised tax slabs. This makes the regime ...

New Income Tax Bill 2025: We cover everything from tax slabs and the old vs. new regime to the latest rules and exemption limits.

The new tax regime offers significant benefits for income up to Rs 12 lakh (Rs 12.75 lakh for salaried), surpassing the old regime's appeal despite deductions. Choosing the old regime makes sense ...

The new tax regime in India offers higher take-home salaries and lower average tax rates compared to the old regime for ...

Ahmedabad: Tax experts have questioned the logic of retaining the old tax regime in the new Income Tax Bill introduced ...

In certain scenarios, the old tax regime may still offer a comparative advantage over the new regime. (Image: Financial Express) The proposals introduced by Finance Minister Nirmala Sitharaman in ...

Please tell me should I opt for Old Tax Regime or New Tax Regime ... of Rs 12 lakh exemption on non CG income be available? No. Rebate of 87A (up to Rs 60,000 of tax amount) is available only ...