Finance
Big GuyOld vs New Tax Regime: The Ultimate Tax Showdown, Baby!
Hey there, folks! So, we got the old tax regime and the new one, right? The new kid on the block is rockin' a basic exemption of Rs 4 lakh—whoa! But if you're into deductions, the old regime is like a pizza with extra toppings. You can switch it up every year, but remember: once you pick a side, it’s like choosing between a meatball sub and a turkey sandwich—make it count!
few days ago | BS Web Team
Quick rundown
1.New tax regime is the default from 2024-25.
2.Higher basic exemption in the new regime at Rs 4 lakh.
3.Old regime offers more deductions but higher rates.
4.No HRA exemption under the new regime.
5.Evaluate both regimes to choose the best option.
