Which regime is simpler?

The new regime is simpler compared to the old regime because of its easy structure and is free from unnecessary paperwork.

Can I switch regimes every year?

Yes, if you are a salaried individual, you are free to switch regimes yearly.

Is income up to ₹7 lakh tax-free as per the new regime slabs?

Yes, under the new regime, due to the rebate under Section 87A. It gives tax relief to people with lower incomes (₹7 lakh or less). It helps reduce your final tax amount, and in many cases, it makes your tax zero.

What deductions are available under the New Tax Regime?

The New Tax Regime allows very few deductions. However, salaried employees can claim the standard deduction as per the latest income tax rules.

How can a D A R & CO LLP Chartered Accountants help me?

D A R & CO LLP Chartered Accountants, known for their reputable position, ensure client satisfaction, maximum returns, effective cost, save time, and avoid high penalties.

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About us
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Contact

Old Tax Regime vs New Tax Regime: Which One Should You Choose?

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