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Union Budget 2025: Comparing the Old and New Tax Regimes

The Union Budget 2025 introduced significant changes to the new tax regime, making it more attractive for taxpayers. While the old tax regime remains unchanged, the new tax regime has revised tax slabs, an increased standard deduction, and a simplified tax structure. This blog compares both tax regimes, helping individuals make an informed choice based on their financial situation. Old Tax Regime: Structured with Deductions The old tax regime follows a progressive tax structure with higher tax rates but allows various deductions and exemptions that help taxpayers reduce their taxable income. Income Tax Slabs (Old Regime) Income Slab Tax Rate Up to ₹2.5 lakh Nil ₹2.5 lakh to ₹5 lakh 5% ₹5 lakh to ₹10 lakh 20% Above ₹10 lakh 30% Deductions and Exemptions Taxpayers in the old regime can claim multiple deductions, including: Section 80C : Up to ₹...

The Indian Budget 2025

 The Indian Budget 2025 boosts economic growth with ₹12 lakh tax-free income, ₹1 lakh senior citizen interest deduction, and ₹6 lakh TDS rent threshold. ₹500 crore funds AI research, 100 low-productivity districts get agricultural aid, and railway modernization expands tracks. ₹2 crore loans support SC/ST women entrepreneurs, while BharatNet enhances digital access. Union Budget (2023-2026) Category 2023-24 Actuals 2024-25 Budget Estimates 2024-25 Revised Estimates 2025-26 Budget Estimates Revenue Receipts ₹27.29 lakh crore ₹31.29 lakh crore ₹30.88 lakh crore ₹34.20 lakh crore Tax Revenue (Net to Centre) ₹23.27 lakh crore ₹25.83 lakh crore ₹25.57 lakh crore ₹28.37 lakh crore Non-Tax Revenue ₹4.02 lakh crore ₹5.46 lakh crore ₹5.31 lakh crore ₹5.83 lakh crore ...