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Compare the Old Tax Regime vs New Tax Regime for FY 2024 -25. Check out slab rates, deductions, and choose the best tax option for you and Maximize your tax savings with ClearTax. With effect from AY 2024 -25, new tax regime has made default tax regime for Individual, HUF, AOP (not being co-operative societies), BOI or Artificial Juridical Person. However, taxpayers have the option to choose between new tax regime and old tax regime. Modifications in the Income Tax Slabs According to the announcement made under the latest budget, the revised tax slab applies to the new tax regime . The corresponding changes from April 1, 2024 , are highlighted below. Compare the revised income tax slabs and rates for FY 2024 -25 under the new and old tax regimes in India. Learn about the key changes, exemptions, deductions, and surcharge rates for different categories of taxpayers.
