Many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home ...

In 2020, the Government of India introduced a new tax regime that offered concessional tax rates while scrapping most of the deductions and exemptions offered under the old tax regime. Most small ...

However, there are still specific cases where the old tax regime could be more beneficial. Employees receiving a substantial house rent allowance (HRA), especially those getting up to Rs 1 lakh ...

there are now fewer people who would go for the old tax regime now. Although the new tax regime offers concessional tax rates, you stand to lose your entitlement to claim most deductions and ...

This comparison clearly shows that for an individual earning Rs 15 lakh per annum, the old tax regime offers a tax saving of Rs 48,100 compared to the new tax regime — provided they make ...

Finance Minister Nirmala Sitharaman has announced important changes for the salaried class in Budget 2025. Under the new tax ...

Budget 2025 income tax: Recognizing the contributions of the middle class and with an objective to eventually phase out the old tax regime, various changes have been introduced in the new tax regime.

One common dilemma they face is whether to continue with the Old Tax Regime or switch to the New Tax Regime. In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new ...

The new tax regime starting FY 2025-26 offers tax exemption for earnings up to Rs 12.75 lakh annually. Despite the new ...

The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...

We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.' IMAGE: Finance Minister Nirmala Sitharaman with the Budget team. Photograph ...

Live: FM Nirmala Sitharaman announced to introduce New Income tax bill next week, no income tax till 12L under new tax regime ...