Old vs new tax regime: Which one should you opt for in 2025-26?
1 week, 2 days ago

Old vs new tax regime: Which one should you opt for in 2025-26?

India Today  

As the new financial year approaches, taxpayers need to make a choice between the old and new tax regimes. Unlike the old regime, the new regime provides limited deductions but offers concessional tax slabs. Choosing between the new and old tax regimes requires careful consideration of income, deductions, and financial goals.” “While the new tax regime offers lower tax rates with fewer deductions, the old tax regime allows individuals to claim exemptions and deductions, making it beneficial for those with significant eligible expenses,” he added. In other words, while the old tax regime promotes savings through tax benefits, the new one is simpler, involves less paperwork and reduces the chances of tax fraud.

Tax 2025 Old Regime Deduction Deductions New Tax Regime  slabs  regimes  financial  old  rs  deduction  2025  tax  deductions  202526  opt  vs  regime

History of this topic

Planning taxes for FY2026? Which regime to pick- old or new?
1 week, 3 days ago

Planning taxes for FY2026? Which regime to pick- old or new?

India Today  

With just a few days to go for the commencement of the new financial year, taxpayers must decide whether to stick with the old tax regime or switch to the new one. As we know, in Budget 2025, Finance Minister Nirmala Sitharaman announced that under the new tax regime, individuals earning up to Rs 12 lakh will pay zero tax. …

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year
1 week, 3 days ago

Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year

India Today  

When it comes to paying taxes, picking the right tax regime can help you save money. COMPARISON OF OLD AND NEW TAX REGIMES Under the old tax regime, taxpayers can claim various deductions to lower their taxable income. Contrastingly, if Mr X opts for the new tax regime, which does not allow the above-mentioned deductions, the entire Rs 50 lakh …

Opting for old tax regime? Check these tax-saving schemes under Section 80C
3 weeks ago

Opting for old tax regime? Check these tax-saving schemes under Section 80C

India TV News  

Opting for old tax regime? Check these tax-saving schemes under Section 80C Old tax regime: One of the most valuable deductions available under the Old Tax Regime is Section 80C, which allows taxpayers to claim deductions of up to Rs 1.5 lakh per financial year. Tax-saving schemes under Section 80C Public Provident Fund : The Public Provident Fund is a …

ITR filing 2025: How often can Indian taxpayers switch between new and old income tax regimes?
4 weeks ago

ITR filing 2025: How often can Indian taxpayers switch between new and old income tax regimes?

Live Mint  

In India, taxpayers can choose between the old and new income tax regimes, each offering distinct benefits. The choice to opt for the old tax regime must be made before the due date for filing returns under Section 139 of the Income Tax Act,” said Abhishek Soni, CEO and Co-founder Tax2win. Tax regime selection rule for salaried taxpayers Taxpayers with …

How often can taxpayers switch between new and old tax regime?
4 weeks ago

How often can taxpayers switch between new and old tax regime?

India Today  

When it comes to paying taxes in India, choosing between the old and new tax regimes is important. Further, if one has considerable tax-saving instruments, one can opt for the old tax regime. On the contrary, if one prefers concessional tax slabs, one can go with the new tax regime. After switching back to the new tax regime, you cannot …

Income Tax Calculator: Here you can assess which tax regime – old or new – is better for you?
4 weeks ago

Income Tax Calculator: Here you can assess which tax regime – old or new – is better for you?

Live Mint  

ITR filing 2025: Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new. If you opt for the new tax regime as per Section 115BAC, you are supposed to forgo exemptions and deductions while computing total income. Now you can choose the slug on the extreme left …

ITR filing 2025: Opted for the new income tax regime? These 3 deductions may help you save money, maximise savings
1 month, 1 week ago

ITR filing 2025: Opted for the new income tax regime? These 3 deductions may help you save money, maximise savings

Live Mint  

ITR filing 2025: The decision between the old and new tax regimes hinges on thoroughly understanding the available benefits. "Despite fewer deductions, the new tax regime still offers savings," says Abhinav R. Jain. Deductions that can help taxpayers maximize savings under the new tax regime Standard Deduction Standard Deduction refers to a fixed amount that taxpayers can subtract from their …

Income Tax: You can continue to avail THESE deductions in the new tax regime
1 month, 1 week ago

Income Tax: You can continue to avail THESE deductions in the new tax regime

Live Mint  

With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. However, in the new tax regime, taxpayers can claim deductions only under a few situations which we have …

New Income Tax Bill: Simpler, lighter and future-ready
1 month, 2 weeks ago

New Income Tax Bill: Simpler, lighter and future-ready

Live Mint  

The long-awaited bill for the new tax code was tabled in Parliament on Thursday. The bill fulfills the finance minister's commitment to provide an income tax law that is straightforward for both taxpayers and tax administrators, aiming to establish tax certainty and reduce litigation. As promised, on the first flush, the new income tax bill is direct in text, replacing …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 2 weeks ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

New income tax regime: Check revised tax rates, slabs, and will you benefit?
1 month, 3 weeks ago

New income tax regime: Check revised tax rates, slabs, and will you benefit?

India Today  

The new income tax regime is set to become the preferred option for the majority of taxpayers in the upcoming financial year, following the proposals in the Union Budget 2025. In fact, salaried individuals with an annual income of Rs 12.75 lakh won't have to pay any tax, given the standard deduction of Rs 75,000 under the new regime. High-income …

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more
1 month, 3 weeks ago

New Tax Regime: Should you opt for it over old tax regime? All about income tax slabs, exemptions and more

Live Mint  

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. Deduction under section 80JJAA: This allows eligible businesses to claim a deduction for hiring new employees Standard deduction benefit In 2023, the finance minister announced the new tax regime as …

Old vs New tax regime: Which one should you choose for income above Rs 12.75 lakh?
1 month, 3 weeks ago

Old vs New tax regime: Which one should you choose for income above Rs 12.75 lakh?

India Today  

The Union Budget 2025 introduced some major changes to the new income tax regime, aimed at providing relief to middle-class taxpayers. The new tax regime is ideal for taxpayers who: 1) Have an income of Rs 12 lakh or below, as they qualify for a full rebate under Section 87A. If you do not claim substantial deductions and want a …

Old Tax Regime Vs New Tax Regime: Which One Offers Better Deductions?
1 month, 3 weeks ago

Old Tax Regime Vs New Tax Regime: Which One Offers Better Deductions?

ABP News  

The Union Budget 2025 has revamped the new tax regime, exempting individuals earning up to Rs 12 lakh annually from income tax giving a massive relief to taxpayers. The revised tax structure also introduces a 25 per cent tax slab for incomes between Rs 20 lakh and Rs 24 lakh. Revised Tax Slabs Under The New Regime Income up to …

Income Tax: 4 key reasons for which you should still opt for the old tax regime
1 month, 3 weeks ago

Income Tax: 4 key reasons for which you should still opt for the old tax regime

Live Mint  

Budget 2025 introduced a number of changes including the new tax slab rates under the new tax regime wherein taxpayers are not supposed to pay any income tax up to ₹12 lakh a year. When you invest in tax-saving instruments: Although the new tax regime offers concessional tax rates, you stand to lose your entitlement to claim most deductions and …

Old tax regime: Time to let go after Budget 2025 changes?
1 month, 3 weeks ago

Old tax regime: Time to let go after Budget 2025 changes?

India Today  

The Union Budget 2025 introduced major changes to the new income tax regime, making it more attractive for middle-class taxpayers. NEW TAX REGIME vs OLD TAX REGIME In the past, many taxpayers preferred the old tax regime because it allowed them to claim deductions for expenses like house rent, home loan interest, and investments in schemes like the Public Provident …

New income tax slabs: Check how much you'll save with these simple calculations
1 month, 4 weeks ago

New income tax slabs: Check how much you'll save with these simple calculations

India Today  

The Union Budget 2025 has introduced major changes to the new income tax regime, making it more attractive for salaried individuals. He also shared an example to show how the new tax regime changes will impact salaried taxpayers with incomes up to Rs 25 lakh: Kunal Savani, Partner, Cyril Amarchand Mangaldas, shared the new tax rates and slabs will benefit …

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman
1 month, 4 weeks ago

Tax Reforms In Budget 2025 Should Help Bring In Majority Of Taxpayers To New Income Tax Regime, Says CBDT Chairman

ABP News  

CBDT Chairman, Ravi Agrawal, on Sunday said that revisions in the tax slabs should bring nearly all the individual taxpayers to the new income tax regime. Speaking in an interview with PTI, the Central Board of Direct Taxes executive said that the Budget 2025’s announcement of no tax on earnings up to Rs 12 lakh per annum should help the …

Budget 2025: Was this a death knell for the old tax regime?
1 month, 4 weeks ago

Budget 2025: Was this a death knell for the old tax regime?

Live Mint  

Budget 2025: Union Finance Minister Nirmala Sitharaman announced the revision of tax slabs for taxpayers under the new tax regime. The tax slab rates under the old tax regime are as follows: Slab Tax 0-2.5 lakh NIL 2.5 to 5 lakh 5% 5 lakh to 10 lakh 20% Above 10 lakh 30% Now imagine someone who earns ₹12 lakh is …

Goodbye old tax regime; new regime now more attractive
1 month, 4 weeks ago

Goodbye old tax regime; new regime now more attractive

Live Mint  

The budget’s biggest, shiniest takeaway: no tax on income up to ₹12 lakh. First, zero tax up to ₹12 lakh as well as the attractive new tax slabs are only applicable to the new tax regime. For instance, even if your income is above the ₹12 lakh or ₹12.75 lakh rebate limit, you still have the ongoing provision of claiming …

After Budget 2025, should you opt for old or the new tax regime?
1 month, 4 weeks ago

After Budget 2025, should you opt for old or the new tax regime?

Firstpost  

A comparison of the two regimes would clearly indicate that the intention of the Government is to streamline the process and ensuring a simpler tax environment to ensure compliance In the year 2024, when an individual filed the return of income, the buzz word around was whether to opt for “new regime” or to pay tax under “old regime”. Over …

Old vs new tax regime: How Budget 2025 alters your tax choices
Top News
1 month, 4 weeks ago

Old vs new tax regime: How Budget 2025 alters your tax choices

Firstpost  

Recognising the significant contributions of the middle class, the Government of India has consistently reduced their tax burden over the years Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget on February 1, 2025, making her the only finance minister in Indian history to achieve this milestone. As a strong commitment towards the middle class, the government has proposed …

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained
1 month, 4 weeks ago

Budget 2025: Income tax gains depend on your investments too. 6 scenarios explained

Firstpost  

Acknowledging the contribution of a young demography to the direct tax revenue and coming through on the promise made to the middle class taxpayers to leave more cash in hand, Union Finance Minister Nirmala Sitharaman proposed significant changes in the tax rates and slabs under the new tax regime. Here’s a comparative scenario on how much tax one will have …

Income tax slabs revised: Should you switch to new tax regime?
1 month, 4 weeks ago

Income tax slabs revised: Should you switch to new tax regime?

Live Mint  

The government’s latest tax overhaul of income tax slabs in Budget 2025 is aimed at introducing a more streamlined tax system, providing relief to the harried middle-class salaried taxpayer. While the new tax regime offers lower tax rates, it removes many popular deductions, forcing taxpayers to weigh the trade-off between reduced complexity and potential savings. Old vs. New Regime Breakdown …

Middle class jackpot! Who saves the most under the new tax regime?
1 month, 4 weeks ago

Middle class jackpot! Who saves the most under the new tax regime?

Hindustan Times  

Income Tax Slabs and Rates – FY 2024-25, AY 2025-26: Union finance minister Nirmala Sitharaman, the Budget 2025, announced on Saturday that annual income of up to ₹12 lakh will be exempt from Income Tax under the new regime. “The revamped tax slabs under the new tax regime as introduced by the Finance Bill 2025, aim to provide significant relief …

Should you choose new tax regime over old? All your questions on income tax answered
1 month, 4 weeks ago

Should you choose new tax regime over old? All your questions on income tax answered

Firstpost  

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? In the Rs 4 lakh - to Rs 8 lakh bracket, five per cent income tax will be applied. A tax payer in the new regime with an income of Rs 12 lakh will get a benefit of Rs …

Should you choose new tax regime over old? All your questions on income tax answered
1 month, 4 weeks ago

Should you choose new tax regime over old? All your questions on income tax answered

Firstpost  

Are you left scratching your head about the changes in tax slabs in the new regime announced in Union Budget 2025? In the Rs 4 lakh - to Rs 8 lakh bracket, five per cent income tax will be applied. A tax payer in the new regime with an income of Rs 12 lakh will get a benefit of Rs …

New income tax slabs: How much will you the taxpayer save, end up paying, explained
1 month, 4 weeks ago

New income tax slabs: How much will you the taxpayer save, end up paying, explained

Live Mint  

Budget 2025 brought unexpected cheer to a large section of middle-class taxpayers who may opt to file their returns under the new tax regime. The sharp reduction in tax liability was made possible by a rejig of tax slabs under the new tax regime, the introduction of a new slab and enhanced rebates. Old tax regime turns unattractive What is …

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered
1 month, 4 weeks ago

Still Calculating Your Tax Under New Slabs? Three Questions About New Tax Regime Answered

ABP News  

In her 8th consecutive Budget speech, Finance Minister Nirmala Sitharaman introduced significant changes to the Income Tax slabs, especially benefiting salaried individuals. Question 1: Do I have to pay tax if my income is Rs 12 lakh and one rupee, and I am part of the new tax regime? The new revised tax slabs are as follows: 0-4 lakh rupees …

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?
1 month, 4 weeks ago

Budget 2025: New tax regime vs. old tax regime – which one should you now opt for?

Live Mint  

Union Budget 2025: With income tax slabs becoming more attractive, it is quite tempting for the taxpayers now to choose a new tax regime over the old tax regime. Sample this: If your income is ₹12.75 lakh, income tax in the new tax regime is 0 whereas in the old regime tax would be ₹1.8 lakh. When income is ₹15.75 …

NO income tax till ₹12 lakh: A look at the new tax slabs vs. current tax slabs
1 month, 4 weeks ago

NO income tax till ₹12 lakh: A look at the new tax slabs vs. current tax slabs

Live Mint  

Union Finance Minister Nirmala Sitharaman delivered her eight consecutive Union Budget at 11 am on Saturday, February 1, 2025. Revised income tax slabs under the new tax regime New tax slab New tax rates Old tax slab Old tax rate 0-4 lakh Nil 0-3 lakh rupees Nil 4-8 lakh 5 per cent 3-7 lakh rupees 5 per cent 8-12 lakh …

Budget 2025: 3 big changes you can expect in new tax regime today
1 month, 4 weeks ago

Budget 2025: 3 big changes you can expect in new tax regime today

India Today  

Some major changes to the new income tax regime may be announced by Finance Minister Nirmala Sitharaman in the Budget 2025 to make it more attractive for taxpayers. Experts across various sectors are optimistic that the Finance Minister will introduce major measures in the new tax regime to ease the burden on the middle class. HIGHER REBATE UNDER SECTION 87A …

Why it makes sense to opt out of old tax regime now
1 month, 4 weeks ago

Why it makes sense to opt out of old tax regime now

India Today  

"Old tax regime died today," said a person on X, acknowledging the tax rebates given by Finance Minister Nirmala Sitharaman in Budget 2025-26 as "massive". Since the new income tax regime was announced in 2020, the old regime never saw any benefits, while rebates were being given to those who opted for the new regime. TAX SLABS UNDER OLD REGIME …

Budget 2025: From new tax regime to crypto tax – 10 key reforms for taxpayers in the past five budgets
2 months ago

Budget 2025: From new tax regime to crypto tax – 10 key reforms for taxpayers in the past five budgets

Live Mint  

Union Finance Minister Nirmala Sitharaman will present Union Budget 2025 tomorrow, her eighth in a row including the interim Budget last year. In 2020, for instance, a new tax regime was introduced for taxpayers and in 2024, capital gain structure was revamped. New income tax regime:TheFM announced the new tax regime in Budget 2020 as an optional regime. V. Standard …

Budget 2025: 5 top expectations of middle class from new tax regime
2 months ago

Budget 2025: 5 top expectations of middle class from new tax regime

India Today  

The new tax regime was announced in Budget 2020 to simplify the tax structure, ensuring taxpayers benefit from lower rates. RAISING BASIC EXEMPTION LIMIT Currently, the basic exemption limit under the new tax regime is Rs 3,00,000. The government may consider extending the tax benefits under the new regime, which otherwise is already included in the old tax regime. Expectations …

Budget 2025: Will 25% tax rate and fresh deductions be announced under new regime?
2 months ago

Budget 2025: Will 25% tax rate and fresh deductions be announced under new regime?

India Today  

In order to simplify the tax system, the government introduced a new tax regime in 2020, with concessional tax rates and removal of certain deductions. The government may now extend this exemption under the new tax regime too. Apart from the existing tax slabs, the government might announce a new tax slab with a 25% tax rate for income above …

Budget 2025: 5 exemptions that are available under new tax regime
2 months ago

Budget 2025: 5 exemptions that are available under new tax regime

India Today  

The new tax regime was introduced to simplify the tax filing process and offer lower tax rates. Sudhir Kaushik, Co-Founder & CEO of Taxspanner said, "The new tax regime was introduced in the financial year 2020-21 to offer a simplified tax structure with lower tax rates. The entire gratuity amount received by the government employee is exempted under the new …

Income Tax Budget 2025: Will Nirmala Sitharaman offer solace to taxpayers with higher exemption limits, revised slabs?
2 months ago

Income Tax Budget 2025: Will Nirmala Sitharaman offer solace to taxpayers with higher exemption limits, revised slabs?

Live Mint  

Income Tax Budget 2025: The Union Budget in July 2024 disappointed individual taxpayers with limited changes. 1) Income tax slabs Reports suggest that the government may raise the tax-free annual income limit to ₹10 lakh, offering relief to the salaried class and revitalising the economy. In light of these complexities, the upcoming Budget should focus on simplifying the tax structure …

Budget 2025: Does it make sense to have a unified tax slab?
2 months ago

Budget 2025: Does it make sense to have a unified tax slab?

India Today  

With rising expectations from Budget 2025 on tax reforms and policies, one of the most debated topics is whether there should be a unified tax regime across the country. Hence, experts believe that taking the best of both the tax regimes and introducing a unified tax regime would benefit the taxpayers. Deepashree Shetty, Partner, Global Employer Services, Tax & Regulatory …

Budget 2025: 5 big tax changes every taxpayer is hoping for
2 months ago

Budget 2025: 5 big tax changes every taxpayer is hoping for

India Today  

Taxpayers, especially the salaried class, are anticipating several tax changes in the upcoming budget, which would help in easing their financial burden to some extent. Aakash Uppal, Partner & Leader, Corporate Tax, Tax and Regulatory Services, BDO India mentioned that individuals with annual earnings up to Rs 7 lakh are exempt from paying taxes under the new tax regime. “The …

Budget 2025: Old tax regime vs new tax regime; which is better?
2 months ago

Budget 2025: Old tax regime vs new tax regime; which is better?

India Today  

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025 on February 1. "The new tax regime was first introduced in Union Budget 2020-21 by inserting a new section, 115BAC, in the Income Tax Act for individuals and Hindu Undivided Families. The main reason for introducing the new tax regime was to simplify the personal taxation framework with …

Income tax calculator: Find out which tax regime suits you better — New or Old
2 months ago

Income tax calculator: Find out which tax regime suits you better — New or Old

Live Mint  

Income tax calculator: The new tax regime became a default tax regime in FY 2023, which means taxpayers are meant to pay income tax based on the new regime unless they opt out of it. Tax exemptions There are a range of income tax exemptions which are available only in the old tax regime and not in the new tax …

Budget 2025 expectations highlights: Tax reforms, industry incentives and more
2 months ago

Budget 2025 expectations highlights: Tax reforms, industry incentives and more

Hindustan Times  

Jan 27, 2025 1:31 PM IST Budget 2025 expectations LIVE updates: Vivek Jalan, Partner at Tax Connect Advisory Services LLP said the following on taxation: "Personal Tax : Scrapping of the Old Regime totally and rationalising the Income Tax slabs under the new regime – It is a fact that today under the new tax regime, Income Tax has become …

Budget 2025: 5 top middle-class expectations for tax relief and savings growth
2 months ago

Budget 2025: 5 top middle-class expectations for tax relief and savings growth

India Today  

Finance Minister Nirmala Sitharaman is just a few weeks away for tabling Budget 2025 and there is a growing anticipation amongst the middle class regarding the announcement of policies and measures by the government to curb inflation, increase purchasing power and ease financial burden. “Taxes for individuals in the Rs 3 lakh – Rs 7 lakh tax slab under the …

New income tax regime has better tax rates, but what's missing?
2 months, 1 week ago

New income tax regime has better tax rates, but what's missing?

India Today  

Budget 2025 is just a few days away and anticipation of tax relief for the salaried taxpayers is also heating up as the government needs to address the slowdown in GDP amid the rise in the cost of living. Swapnil Aggarwal, Director, VSRK Capital said that for the new income tax regime to be applicable successfully, it might need to …

New Tax Regime: Why should you still opt for tax-saving instruments such as PPF, NPS, NSC?
2 months, 1 week ago

New Tax Regime: Why should you still opt for tax-saving instruments such as PPF, NPS, NSC?

Live Mint  

In FY 2023-24, the new tax regime became a default regime. While the new tax regime may have diminished the immediate tax incentives, Trivedi argues that the decision to invest in these instruments should be driven by the investor's broader financial goals, including retirement planning and risk tolerance. “The new tax regime offers individuals the flexibility to choose investments that …

3 must-know sections under old tax regime to save money
2 months, 2 weeks ago

3 must-know sections under old tax regime to save money

India Today  

As the financial year draws to a close, taxpayers opting for the old tax regime must gear up to make the most of the available deductions. Some popular choices include life insurance premiums, Employee Provident Fund contributions, Public Provident Fund, National Savings Certificate, and tax-saving fixed deposits with a 5-year lock-in period. For those aiming to boost their retirement savings, …

Income Tax: These deductions and exemptions are allowed only under old tax regime
2 months, 2 weeks ago

Income Tax: These deductions and exemptions are allowed only under old tax regime

Live Mint  

In the financial year 2023-24, the new tax regime became the default regime. Here, we list some of the common deductions allowed under the old tax regime. Please note that these exemptions are allowed only under the old tax regime. It is vital to note that the old tax regime has slightly higher tax rates than the new tax regime. …

Budget 2025: Does old tax regime still make sense or should it be scrapped?
2 months, 3 weeks ago

Budget 2025: Does old tax regime still make sense or should it be scrapped?

India Today  

Imagine having to choose between two restaurants - one offers a straightforward fixed menu at a lower price, while the other has a slightly higher base price but comes with customisable sides, drinks, and desserts that could ultimately save you money. "The old tax regime should not be scrapped as it still provides benefits for the taxpayers claiming deductions up …

Discover Related