Though the new regime offered concessional tax rates, it reduced several popular deductions and exemptions, like HRA, LTA, ...

The new tax regime has become quite attractive for the middle-class taxpayers. In FY 2023-24, around 74 percent of taxpayers opted for the new regime. There is an expectation that nearly 90 percent of ...

The Union Budget 2025, presented in the Parliament Session on February 1, 2025, introduced major reforms in exemptions and deductions under the new tax regime for the Financial Year (FY) 2025-26 and ...

T Act, which pertains to the New Tax Regime, is applicable by default unless the taxpayer chooses to opt out under specific ...

With the new tax regime becoming more widespread, taxpayers are losing access to several exemptions and deductions previously ...

What if someone earning above Rs 12.75 lakh annually chooses the old regime and claims the maximum deductions? Will it result in tax savings? This article explores the key deductions available under ...

Union Budget 2025 sparks debate between old and new tax regimes, offering exemptions vs. simplified slabs and lower rates.

In the case of EPF, employee contributions generally qualify for a deduction under Section 80C of the Income Tax Act, capped ...

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant ...

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 ...

the old tax regime offers a tax saving of Rs 48,100 compared to the new tax regime — provided they make sufficient investments to utilise all available deductions and claim HRA exemptions.