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 ₹...
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