You should opt for the old tax regime if you want to claim deductions and exemptions for house rent allowance.

FY26 has brought with it several tax changes – the biggest one of them being the huge sweetener in the new income tax regime. This, along with major capital gains tax changes announced in July 2024 ...

It is essential to inform your employer of your preferred tax regime on time to ensure that less tax is deducted from your ...

Higher Income Brackets: For people with annual incomes above Rs 24 lakh, both regimes apply the same top tax rate of 30%. But ...

Many individuals are confused about whether income tax rules allow a taxpayer to choose any tax regime during the income tax ...

The old tax regime offers more deductions and exemptions compared to the new tax regime, making it a preferred choice for individuals who can take advantage of these benefits. Additionally, the Budget ...

Not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. Mint helps you understand ...

The new tax regime is now the default option. If you wish to continue with the old tax regime, you must inform your employer.

After successfully filling out the income-tax return, the next step is to verify it. If a return is filed but not verified within permitted time, it shall be deemed as invalid return ...

Home buying is encouraged by the Indian government with tax relief under certain provisions of the Income Tax Act, 1961, ...

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

Mumbai: With the start of the new financial year 2025-26, salaried individuals are once again facing the common dilemma — which tax regime to choose: old or new? Employers are asking for ...