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

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

For AY2025-26, understanding tax liability under each income tax regime is crucial. Here's calculation for Rs 10 lakh, Rs 20 ...

With the ITR filing season for FY 2024–25 officially underway, taxpayers are once again faced with the crucial decision of ...

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 ...

The new tax regime also offers a higher standard deduction. Last year, it was raised from Rs 50,000 to Rs 75,000 for salaried ...

With revised tax slabs and higher rebates, financial advisors should guide clients in evaluating which tax regime best suits ...

Our panel of experts answers questions related to any aspect of personal finance. If you have a query, mail it to us right ...

Salaried and self-employed individuals can use HRA exemption under Section 10 (13A) and Section 80GG, respectively. HRA helps ...

Under the old tax regime, individuals and businesses could claim a variety of exemptions and deductions—such as house rent ...

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