# newtaxregime
12 posts in `newtaxregime` tag
Maximize Tax Savings: How to Claim Both 80C & 80CCD Deductions (AY 2025-26)
This guide explains how taxpayers can claim deductions under both Section 80C and Section 80CCD (NPS) of the Income Tax Act for AY 2025-26. It details the limits and interaction of 80C, 80CCD(1), 80CCD(1B - additional ₹50k), and 80CCD(2 - employer contribution). The post clarifies that combining these benefits (up to ₹2 Lakh + employer contribution) is possible under the Old Tax Regime, while only 80CCD(2) is available under the New Tax Regime. An example illustrates maximizing deductions under the Old Regime.
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By Krishna
Your FY 2024-25 Investments & Their Impact on AY 2025-26 Tax Return
Your FY 2024-25 investments directly impact your AY 2025-26 tax return. This guide covers tax-saving deductions (80C, 80D), taxable income (interest, dividends), capital gains reporting, and regime selection (old vs new). Ensure accurate filing with proper documentation.
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By Krishna
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HRA and LTA Explained: Essential Tax Benefits for Salaried Individuals in 2024
This blog discusses the tax benefits of the House Rent Allowance (HRA) and Leave Travel Allowance (LTA) under the Income Tax Act. Learn how to calculate HRA exemptions, claim LTA benefits, and compare the old and new tax systems to optimize your tax savings in 2024.
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By Krishna
Tax Surcharges Uncovered: Detailed Insights into Old and New Regime Structures
This blog gives a thorough comparison of surcharge rates under India's old and new tax systems. Learn how these rates effect your tax burden and which regime is best for your specific financial position.
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By Krishna
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Old vs New Tax Regime in India: A Comprehensive Comparison
Understand the key differences between the Old and New Tax Regimes in India. This blog provides a detailed comparison of tax slabs, exemptions, deductions, and practical examples to help you decide which regime is better for your income level.
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By Krishna
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Old vs. New Tax Regime: Which Option Suits You Best for FY 2025-26?
The Indian tax system offers two regimes—old and new—each with distinct slab rates, deductions, and exemptions. This blog compares both regimes, using examples to help you decide which one suits you best for FY 2025-26. Learn how to minimize your tax liability based on your income and investments.
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By Krishna
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Old vs New Tax Regime – Make the Right Choice for 2025-26
As the financial year 2025-26 begins, taxpayers face a crucial decision: Old Tax Regime or New Tax Regime? This blog simplifies the choice with real-life examples of Mr. Arun Sharma and Mr. Rahul Mehta, breaking down their income, deductions, and tax liabilities under both regimes. Discover which regime is better for you, whether you have significant deductions or prefer simplicity. Learn how to save more on taxes and make an informed decision for FY 2025-26.
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By Krishna
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Choosing Between the Old and New Tax Regimes: A Guide for FY 2025–26
The Old Tax Regime and the New Tax Regime are the two tax regimes that India offers to people. This document highlights the benefits, drawbacks, and tax computations for FY 2025–2026 of both regimes. Find out which regime is most appropriate for your financial status and income.
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By Krishna
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Old vs New Tax Regime: A Detailed Comparison to Save More
The Indian government provides two tax regimes – the Old Regime and the New Regime – each with its own benefits and drawbacks. The Old Regime offers multiple deductions and exemptions, while the New Regime provides lower tax rates with minimal exemptions. This blog explores the key differences, tax calculations, and real-life illustrations to help taxpayers make an informed choice. Find out which tax regime suits your financial situation best!
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By Krishna
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India’s Income Tax Slabs for FY 2023-24, 2024-25, and 2025-26 – New Tax Regime
An outline of the most recent income tax slabs for FY 2023–2024; FY 2024–2025; and FY 2025–2026 under the new tax system is given in this blog. Taxpayers need to carefully consider their alternatives in light of the updated tax rates and higher exemption ceilings. Myitronline makes tax preparation easier while guaranteeing accuracy and the most possible savings.
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By Krishna
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Form 24Q Compliance for Salaried Employees – January 2025 Relief Measures
With effect from January 2025, the revised Form 24Q for TDS returns provides salaried employees with more clarity and accuracy in their tax deductions. Pre-filled tax calculations, a thorough income breakdown, and adherence to the new tax regime are some of the major adjustments. This improvement simplifies compliance for employers and guarantees employees faster refunds and easier tax filing.
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By Krishna
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Comprehending Income Tax Act Section 115JB: Minimum Alternate Tax (MAT)
The Income Tax Act's Section 115JB establishes the Minimum Alternate Tax (MAT), which makes sure businesses pay a minimum tax even when they take advantage of exemptions and deductions. The goal of MAT, its applicability to both domestic and international businesses, its calculation method, the credit system, and important modifications such as exclusions for businesses falling under Sections 115BAA and 115BAB are all covered in this blog. It also looks at MAT's function in maintaining tax equity, particularly for companies with high book earnings but low tax obligations.
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By Krishna