Income Tax Calculator: Old vs New Regime

Income Tax Calculator: Old vs New Regime Understanding the Income Tax Calculator (FY 2024-25 & AY 2025-26) The Union Budget 2024 (Finance (No. 2) Act, 2024) introduced key revisions to the default New Tax Regime under Section 115BAC of the Income-tax Act, 1961. This online calculator lets salaried professionals, self-employed consultants, and business owners instantaneously evaluate and compare their net tax liability under both the New Tax Regime and the traditional Old Tax Regime. Key Budget 2024 Amendments to the New Tax Regime Standard Deduction Hiked to ₹75,000: For salaried employees and pensioners opting for the New Tax Regime, standard deduction under Section 16(ia) has been increased from […] Read Full Article: Income Tax Calculator: Old vs New Regime