Old Tax Regime

Taxpayers are allowed to switch between the new and the old tax regimes during the filing of returns, albeit with a condition.

Old vs new tax regime: Can salaried employees switch tax regime at the time of filing ITR?

The actual exercise of choosing between the two regimes has to be done by the employee at the time of filing the ITR.

Paid income tax under new regime, but old regime shows zero tax liability—can I revise ITR and switch regime now for FY25

Moneycontrol’s Ask Wallet-wise initiative offers expert advice on matters related to personal finance and money-related queries

You may file ITR under old tax regime for the following reasons

Opting for the old tax regime can still be logical for most taxpayers — here's why.

Old vs new tax regime: 4 reasons why the old regime might still be best for you

Many taxpayers find that the old tax regime is more flexible, particularly regarding deductions and exemptions.

Switching to the new tax regime? Here’s what happens to your carried forward business losses

Know how your past losses are treated when you opt for the new income tax regime.

Switching tax regimes in 2025: What salaried and business taxpayers need to know

Salaried individuals can switch between old and new tax regimes every year, while business owners have limited flexibility.

Budget 2025: Old vs. New Tax Regime – Which One Saves You More? | Explained

Budget 2025 is around the corner, and taxpayers are eagerly waiting for potential income tax changes! Should you stick to the old tax regime with deductions or switch to the new simplified structure? We break down the latest slabs, tax rates, and savings for different income levels. Watch now to find out which regime is best for you!

Govt may hike exemption limit under new tax regime to Rs 5 lakh; relief unlikely for the rest

The government may not tinker with rates under the old tax regime despite requests to increase the threshold for the highest tax slab to Rs 20 lakh. This is to ensure that more people are incentivised to move towards the new regime that discourages exemptions and rebates.

No changes in new tax regime from April 1: Finance Ministry

The option of opting out from the new tax regime is available till the filing of return for the assessment year 2024-25, the ministry has said

Pre-Budget wishlist: Give greater flexibility to the self-employed to switch between old and new tax regimes

Self-employed individuals can switch between the old and the new tax regime only once in their lifetime. The flexibility to make this choice every financial year would help those with varying annual incomes, say experts.

New tax regime vs old tax regime - deductions and exemptions allowed under both the regimes

You can claim deduction for home loan interest, but only on a rented property, and not as much as under the old regime. Gratuity is tax-exempt up to Rs 20 lakh and leave encashment up to Rs 25 lakh for non-government employees under the new and the old tax regimes.

How to use IT department’s official tax calculator to choose between old and new tax regimes

You can compare your tax outgo under both and opt for the one where tax liability is lower.

FM Nirmala Sitharaman interview | New tax regime the future, old tax regime to stay

The new tax regime offers lower rates, more money in the hands of taxpayers and simplicity. While older tax regime offers incentives to save, the tax rates are far higher. The tax-payer is the best judge to decide where to put her money, Finance Minster Nirmala Sitharaman told Network18 Group Editor Rahul Joshi in an exclusive post-Budget 2023 interview.

The ultimate guide that helps you choose between new and old income-tax regime

The all-new and improved new income-tax regime has got more attractive, post Budget 2023. Salaried individuals can switch between the two tax regimes every year after estimating their tax liability. But businesspersons and professionals can switch to the old regime and back once.

Earning less than Rs 5 lakh per annum? You don't have to pay tax under any of the regimes

Budget 2023: Tax rebate under both regimes ensures that low income earners will not have to pay any tax

Budget 2023: Earning between Rs 5 lakh and 7 lakh? Here's how much you will save

Strap: Under the new tax regime, those earning salaries of up to Rs 7 lakh will not have to pay any tax. Likewise, those claiming deductions of at least Rs 2 lakh will not have to pay any tax under the old regime either.

Earning Rs 10 lakh per annum? Higher deductions will mean more savings under the old tax regime

Budget 2023: An individual with a gross salary of Rs 10 lakh claiming Section 80C and other deductions of Rs 4.75 lakh will pay income tax of Rs 18,200 under the old tax regime.

Old Or New: which tax regime should you use for an income of Rs 15 Lakh?

Union Budget 2023-24: Despite Budget 2023's tax sops to the new income tax regime, the choice is not as straightforward. But a back-of-the-envelope calculation shows that Rs 15 lakh income, coupled with Rs 3.75 lakh deduction, is a break-even point

Old Tax vs New Tax Regime | Which Is More Beneficial After Budget 2023? | Explained

What's the difference between the old tax and new tax regime and which one could be more beneficial for you? Pranjal Kamra and Sonal Mehrotra Kapoor explain the key differences between the two tax regimes. WATCH!

Budget 2023 | Old vs new tax regimes: Who should make the switch?

High networth individuals could find new tax regime beneficial, while people in the lower and middle income brackets who claim multiple deductions could still be better off with the older tax regime

Budget 2023: Temporary market euphoria gives way to despondency

A push towards the new income tax regime and the sell-off in Adani Group take the sheen off a dream budget

Budget 2023: Is the Rs 7-lakh tax-free income limit only for the new tax regime?

Finance Minister Nirmala Sitharaman also lowered tax rates and allowed more exemptions to make the new regime more appealing to taxpayers

Budget 2023: What could the FM do to make the new regime attractive to taxpayers?

The new regime has failed to attract taxpayers. Allowing some deductions as part of Budget 2023 announcements may help, but will also mean diluting the USP of the new system – simplicity and lesser paperwork.