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The future of the old tax regime has been the subject of ongoing speculation, especially with the implementation of the new Income Tax Act, 2025. From April 1, 2026, the new regime becomes the default option, but the old regime remains available. Current reforms focus on modernising the law and simplifying compliance, not on removing the older system. Taxpayers can continue choosing the old regime if they prefer deductions and exemptions, making it clear that the government h

Assisted filing and DIY filing each offer distinct benefits when it comes to choosing the right income tax regime under the Indian Income Tax Act, 1961. The decision affects overall compliance, accuracy of reporting, and the ability to optimise deductions and exemptions. With evolving rules, adjusted tax slabs, and shortened compliance timelines, selecting between the old and new regimes is not just about saving tax but also about avoiding errors. Platforms like TaxBuddy h

Understanding the differences between the Old and New Tax Regimes is crucial for taxpayers in FY 2025-26. The New Tax Regime, now the default option, offers simplified slabs, higher rebates, and fewer deductions, while the Old Regime allows extensive exemptions and deductions for strategic tax planning. Knowing which regime suits individual income, investments, and expenses can optimize tax liability and maximize refunds. TaxBuddy provides intuitive tools and calculators

The choice between the Old and New Tax Regime in 2025 depends heavily on individual income, deductions, and investment habits. The New Tax Regime offers lower slab rates and a higher standard deduction, making it attractive for middle-income earners with minimal deductions. The Old Tax Regime , with multiple exemptions and tax-saving deductions, can significantly reduce taxable income for individuals with large investments, home loans, or health insurance premiums. Understand

Section 80CCD(1B) of the Income Tax Act provides an additional deduction of up to ₹50,000 annually for contributions to the National...

House Rent Allowance (HRA) is a vital component of salary for many employees, yet it remains one of the most misunderstood elements in...

Filing Income Tax Returns (ITR) accurately can be a daunting task for many taxpayers, especially with changing regulations, revised...

Choosing the right tax regime is one of the most critical decisions for salaried individuals and business professionals when filing...

The standard deduction is a key component of the Income Tax system designed to provide salaried individuals and pensioners with a fixed...

Form 16 is a crucial document for salaried individuals in India, serving as a certificate issued by employers that details the salary...