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 ...

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

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

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

T department allows taxpayers to opt between the two tax regimes. However, the decision can significantly impact your tax ...

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

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

Under the old tax regime, taxpayers can claim various deductions and exemptions, while the new tax regime does not offer much ...

Let's say you had earlier chosen the old tax regime, but now the new regime appears more beneficial after reviewing your ...

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

The income tax return form, by default, applies to the new regime. It inquires from the taxpayers whether they wish to come out under Section 115 BAC. Selecting 'Yes' transfers them to the old tax ...