Old tax regime vs new tax regime: New Tax Regime vs Old

New Tax Regime vs Old Tax Regime Slabs Comparative analysis of new tax regime vs. old tax regime highlights importance of understanding nuances of each system and making informed decisions based on individual financial situations. Here’s a detailed comparison to help you decide between the New and Old Tax Regimes for 2024. The old tax regime is popular among taxpayers because it offers a wide array of deductions and exemptions. Ans: Under thistax regime, taxpayer can claim various deduction, exemption and rebate to reduce their taxable income. This regime has higher tax rates compared to the new regime, but allows for numerous deductions and exemptions. Compare your income tax liability under old and new tax regimes. Calculate and compare tax savings between both regimes for FY 2024-25.