Income Tax FY2025: Here’s how to make a switch between new and old tax regimes

Income Tax FY2025: Here’s how to make a switch between new and old tax regimes

Income Tax 2024-25: During the Union Budget proceedings for fiscal year 2023-24, Finance Minister Nirmala Sitharaman declared that the new tax structure will be established as the default regime. This updated approach to taxation was initially implemented in 2020. The present rules stipulate that should taxpayers neglect to declare their preference with their employer, deductions … Read more