Under the old tax regime, taxpayers can claim various deductions and exemptions, while the new tax regime does not offer much ...

As the financial year 2025-26 begins, taxpayers must choose between the two income tax regimes when they file their income ...

The Union Budget 2025 has introduced some major changes to India’s income tax structure. If you’re a salaried employee or ...

Under the new tax regime, individuals with annual income up to Rs 7 lakh can avail a rebate under Section 87A, meaning they ...

The new financial year, FY26, has already started. With this new financial year comes the new Tax regime, which has a big difference in terms of many things. The government has recently rolled out ...

"The previous tax regime, known as the old regime, was in place before the new regime was introduced. It offered over 70 exemptions and deductions, such as HRA and LTA, which could help ...

The income tax return form, by default, applies to the new regime. It inquires from the taxpayers whether they wish to come out under Section 115 BAC. Selecting 'Yes' transfers them to the old tax ...

Both the old and new tax regimes have advantages and disadvantages, but the New Personal Tax Regime is the best option for taxpayers making up to Rs. 12 lakhs per year since it provides a full refund ...

There is a marginal relief of up to Rs 22,222 under the new regime until the net taxable income reaches Rs 7,22,222. Marginal relief ensures that the excess tax liability is limited to the excess ...

With the start of the new financial year, many income tax changes will take effect; understanding the latest income tax slabs ...

However, there’s a crucial caveat. This flexibility to change regimes is only available if the ITR is filed on or before the ...

Salaried individuals can switch between old and new tax regimes every year, while business owners have limited flexibility.