In this article, we will dive deep into both tax regimes - Old Tax Regime and New Tax Regime. The write-up will explain ...

Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower ... 1,50,000 for investments in options such as PPF, ELSS, and LIC premiums.

With Budget 2025 making income up to Rs 12 lakh tax-free under the new regime, salaried taxpayers are weighing the benefits ...

Although the typical deductions for investment in the tax-saving instruments such as PPF ... focus on New Tax Regime is to encourage consumption, so naturally not many deductions/exemptions ...

While both the old and new regimes have merits ... investments or expenses such as PPF, NPS repayment of housing loan, payment of tuition fees, etc. Which tax regime is better for INR 15 lakh?

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

Under the new regime, these exemptions are not permitted ... It promotes long-term financial prudence with tools such as PPF, ELSS, and NPS. For tax payers who like tailoring their financial ...

Section 80C: Up to Rs 1.5 lakh – PPF, ELSS ... Introduced in the Budget 2020, the New Tax Regime offered lower tax rates. However, it provides fewer exemptions and deductions.

Although the typical deductions for investment in the tax-saving instruments such as PPF ... year the new employees are hired. 5.Exemption for senior citizens: In the old tax regime, the basic ...