Compare the New and Old Tax Regimes for FY 2025-26. Learn about tax rates, exemptions, deductions, and which regime suits your income and financial goals.... Difference between old vs new tax regime & comparison between them to figure out whether you should opt for new or old tax regime for FY 2025-26. Compare your income tax liability under old and new tax regimes. Calculate and compare tax savings between both regimes for FY 2024-25. The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessees being Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person. However, the eligible taxpayers have the option to opt out of new tax regime and choose to be taxed under old tax regime . The old tax regime refers to the system of income tax calculation and slabs that existed before the introduction of the new tax ...
