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

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

With the beginning of Financial Year 2024-25, a major change in income tax rules has stirred confusion among taxpayers. The ...

So, if your employer deducted taxes based on the old tax regime, you can still shift to the new regime when filing your ...

Under current rules, salaried taxpayers must inform their employers of their choice between the old and new tax regimes at ...

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

Notably, taxpayers can claim exemption for HRA along with the interest on home loan under the old tax regime in the same year ...

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

Old tax regime, however, still offers taxpayers a range of options to save taxes through various eligible deductions and ...

If substantial past losses relate to now-disallowed deductions, switching to the new regime may forfeit their set-off. In ...

The revisions introduced under the new tax regime is aimed to make the new regime easier, cut down on paperwork, and minimise ...

If the old regime is better for you, and you have invested heavily under Section 80C, but don’t inform your employer, more tax might be deducted from your salary during the year.