The government may not tinker with rates under the old tax regime despite requests to increase the threshold for the highest tax slab to Rs 20 lakh. This is to ensure that more people are ...

The old tax regime still exists ... If we take into account 22 working days in a month and 2 meals a day, an employee can take a monthly exempt benefit of Rs 2,200 and the yearly exemption ...

It is vital to note that you can still file your income tax return (ITR) under the old tax regime and claim these deductions as a tax refund. However, you will need to opt out of the new tax regime.

If you have a home loan you can claim both maximum principal and interest rate deductions, you can save more taxes under the old tax regime. Consider consolidated deductions before making a decision.

New Tax Regime vs Old Tax Regime: The Centre offers us two types of tax regimes to file our income tax returns. In the budget for the financial year 2024-25, the central government introduced ...

Most of the income tax changes announced in July 2024 will affect tax deductions and exemptions that can be claimed while filing an income tax return (ITR) in July 2025. ET Wealth Online has listed 15 ...