Old tax regime vs new tax regime: Here’s a detailed comparison to help you

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. Compare the New and Old Tax Regimes for FY 2025-26. Learn about tax rates, exemptions, deductions, and which regime suits your income and financial goals. Amount deductible from gross salary (except standard deduction), which is not allowed under the new regime Following are not allowed to be deducted in new regime: Exemption with respect to travel concession or assistance as covered in section 10 (5); Any other allowance as covered in section 10 (14) or section 10 (17); Compare your income tax liability under old and new tax regimes. Calculate and compare tax savings between both regimes for FY 2024-25.