Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.

The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits ...

The decision between the old and new regime depends on available deductions and exemptions. If the assesse has deductions and ...

According to rules, salaried individuals can switch regimes annually, while business professionals can do so only once, and ...

This can be done by eliminating the deductible allowances, such as House Rent Allowance (HRA), Leave Travel Allowance (LTA) ...

Disallowed deductions' related business losses expire in the new tax regime, while ordinary business losses can continue to be carried forward under specified circumstances.

Once a go-to investment for tax savers, Equity Linked Savings Schemes (ELSS) are facing an identity crisis. With the new tax ...

The Income Tax Department’s latest updates to ITR-1 and ITR-4 for Assessment Year 2025–26 have sent a clear message—claiming deductions and exemptions ...

Under the new tax regime, you will have to pay tax of Rs 1,04,000. Under the old tax regime, after claiming 80C (already mentioned by you) and additional exemption of Rs 50,000 under section 80 TTB, ...