Income Tax Return: You can claim deductions and exemptions even in the new tax regime, know how here

Income Tax Return: You can claim deductions and exemptions even in the new tax regime, know how here - Business League

The new income tax regime does not offer the same deductions and exemptions as the old regime. However, some deductions and tax benefits are available in the new regime. Taxpayers switching from the old regime to the new regime can avail these benefits. Many salaried taxpayers and pensioners are expected to switch to the new tax regime this financial year (2025-26). The new income tax regime has higher tax slabs, lower tax rates and income up to…

Income Tax Return: You can claim deductions and exemptions even in the new tax regime, know how here

Many salaried taxpayers and pensioners are expected to switch to the new tax regime this financial year (2025-26). The new income tax regime has higher tax slabs, lower tax rates and income up to Rs 12 lakh per annum is tax-free. However, the new regime does not have the benefits of deductions and exemptions like the old regime. However, some deductions and benefits are also available in the new regime. Corporate NPS Contribution This is a tax b…