Old vs new income tax regime: What to choose if you earn Rs 50 lakh per year

Taxpayers should consider a few key factors before making a choice. The old regime allows deductions, whereas the new regime offers lower tax rates but no major deductions.

Taxpayers must carefully evaluate whether the old or new tax regime suits them best before filing returns.

In Short
Budget 2025 raises the tax-free income threshold to Rs 12 lakh
The old tax regime allows several deductions to lower taxable income
The new regime offers lower tax slab rates and minimal paperwork

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