{"id":6635,"date":"2024-02-15T17:53:59","date_gmt":"2024-02-15T17:53:59","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=6635"},"modified":"2024-04-06T09:47:46","modified_gmt":"2024-04-06T09:47:46","slug":"opting-new-tax-regime","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/","title":{"rendered":"Opting new tax regime &#8211; Basic Conditions"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6771\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction-.jpg\" alt=\"OLD Tax regime VS New Regime Deduction\" width=\"945\" height=\"1227\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction-.jpg 945w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction--231x300.jpg 231w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction--789x1024.jpg 789w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction--768x997.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/OLD-VS-New-Regime-Deduction--800x1039.jpg 800w\" sizes=\"(max-width: 945px) 100vw, 945px\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69db2b83bba10\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69db2b83bba10\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#Opting_new_tax_regime_%E2%80%93_Basic_Conditions\" title=\"Opting new tax regime &#8211; Basic Conditions\">Opting new tax regime &#8211; Basic Conditions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#No_changes_in_Tax_Regime_both_in_Income_Tax_and_GST_have_been_proposed\" title=\"No changes in Tax Regime both in Income Tax and GST, have been proposed.\">No changes in Tax Regime both in Income Tax and GST, have been proposed.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#Income_Tax_Amendments_related_to_Taxation_provision\" title=\"Income Tax Amendments related to Taxation provision :\">Income Tax Amendments related to Taxation provision :<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#What_is_provision_related_to_New_tax_regime_in_professional_tax\" title=\"What is provision related to New tax regime in professional tax? \">What is provision related to New tax regime in professional tax? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#What_are_the_time_limit_to_switch_between_the_old_and_new_income_tax_regime\" title=\"What are the time limit to switch between the old and new income tax regime? \">What are the time limit to switch between the old and new income tax regime? <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#Income_tax_Slab_Rate_AY_2024-25\" title=\"Income tax Slab Rate AY 2024-25:\u00a0\">Income tax Slab Rate AY 2024-25:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/opting-new-tax-regime\/#Clarification_related_to_Old_Vs_New_tax_regime_%E2%80%93_Recent_Update\" title=\"Clarification related to Old Vs New tax regime &#8211; Recent Update\u00a0\">Clarification related to Old Vs New tax regime &#8211; Recent Update\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Opting_new_tax_regime_%E2%80%93_Basic_Conditions\"><\/span><span style=\"color: #000080;\"><strong>Opting new tax regime &#8211; Basic Conditions<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Income taxpayers who choose the New Tax regime&#8217;s concessional rates will have to give up some of the deductions and exemptions that were part of the previous tax system. There are a total of 70 deductions and exemptions that are prohibited, the most popular of which are stated below:<\/p>\n<table style=\"height: 1492px;\" width=\"842\">\n<tbody>\n<tr>\n<td><span style=\"color: #000080;\"><strong>Particulars<\/strong><\/span><\/td>\n<td><span style=\"color: #000080;\"><strong>Old Tax Regime<\/strong><\/span><\/td>\n<td><span style=\"color: #000080;\"><strong>New Tax Regime<\/strong><strong><br \/>\n(From 1st April 2023)<\/strong><\/span><\/td>\n<td><span style=\"color: #000080;\"><strong>New Tax regime<\/strong><strong><br \/>\n(until 31st March 2023)<\/strong><\/span><\/td>\n<\/tr>\n<tr>\n<td>Rebate eligibility under different Income level<\/td>\n<td>\u20b9 5 lakhs<\/td>\n<td>\u20b9 7 lakhs<\/td>\n<td>\u20b9 5 lakhs<\/td>\n<\/tr>\n<tr>\n<td>Applicability of Standard Deduction<\/td>\n<td>\u20b9 50,000<\/td>\n<td>\u20b9 50,000<\/td>\n<td>\u2013<\/td>\n<\/tr>\n<tr>\n<td>Effective Tax-Free Salary income<\/td>\n<td>\u20b9 5.5 lakhs<\/td>\n<td>\u20b9 7.5 lakhs<\/td>\n<td>\u20b9 5 lakhs<\/td>\n<\/tr>\n<tr>\n<td>House Rent Allowance Exemption<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Leave Travel Allowance<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Standard Deduction (Rs 50,000)<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Other allowances including food allowance of Rs 50\/meal subject to 2 meals a day<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Interest on Home Loan Under Section 24b on slef-occupied or vacant property<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Interest on Home Loan Under Section 24b on let-out property<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Entertainment Allowance Deduction &amp; Professional Tax<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Perquisites for official purposes<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Employer\u2019s contribution to National Pension System<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Payment of Medical insurance premium \u2013 Section 80D<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Disabled Individual \u2013 Section 80U<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Payment of Interest on education loan \u2013 under section 80E<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Deduction under Section 80C (EPF|LIC|ELSS|PPF|FD|Children\u2019s tuition fee etc)<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Employee\u2019s contribution to NPS<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Savings Bank Interest Under Section 80TTA &amp; 80TTB<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Other Income Tax deductions under Chapter VI-A<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>All contributions to Agniveer Corpus Fund \u2013 Section 80CCH<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>Did not exist<\/td>\n<\/tr>\n<tr>\n<td>Interest on Electric vehicle loan \u2013 Under Section 80EEB<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Donation to Political party\/trust etc \u2013 Section 80G<\/td>\n<td>\u2713<\/td>\n<td>X<\/td>\n<td>X<\/td>\n<\/tr>\n<tr>\n<td>Exemption on voluntary retirement \u00a0Section 10(10C)<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Income Tax Exemption on gratuity Under Section 10(10)<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Exemption on Leave encashment Under Section 10(10AA)<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Daily Allowance<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Transport Allowance for a specially-abled person<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Conveyance Allowance<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Deduction on Family Pension Income<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Gifts up to INR 50,000<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<td>\u2713<\/td>\n<\/tr>\n<tr>\n<td>Rebate Under Section 87A<\/td>\n<td>12,500<\/td>\n<td>25,000<\/td>\n<td>12,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em> <img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6926\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm-.jpg\" alt=\"Comparison of deduction old and new regime\" width=\"1190\" height=\"717\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm-.jpg 1190w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm--300x181.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm--1024x617.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm--768x463.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Comparision-of-deduction-old-and-new-resigm--800x482.jpg 800w\" sizes=\"(max-width: 1190px) 100vw, 1190px\" \/><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"No_changes_in_Tax_Regime_both_in_Income_Tax_and_GST_have_been_proposed\"><\/span><span style=\"color: #000080;\"><strong>No changes in Tax Regime both in Income Tax and GST, have been proposed.<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6640\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32.jpg\" alt=\"rate\" width=\"1123\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32.jpg 1123w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32-263x300.jpg 263w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32-898x1024.jpg 898w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32-768x875.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/photo_2024-02-15_23-26-32-800x912.jpg 800w\" sizes=\"(max-width: 1123px) 100vw, 1123px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Income_Tax_Amendments_related_to_Taxation_provision\"><\/span><span style=\"color: #000080;\"><strong>Income Tax Amendments related to Taxation provision <\/strong>:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Time limit for tax incentives for International Financial Services Centre units (IFSC) under Sections 10(4D) &amp; 10(4F), eligible startups, Pension Funds &amp; Prescribed Sovereign Welfare, expiring in March 2024, have been extended for one more year till 31st March, 2025.<\/li>\n<li>Petty Income Tax Disputed Demands upto INR 25k upto Financial Year 2009-10 &amp; upto INR 10,000 for Financial Year from 2010-11 to 2014-15, to be waived off by the Govt of India. This is expected to advantage around 1,00,00,000\/- Income tax Taxpayers.<\/li>\n<li>The recent changes in Tax collected at source\u00a0 on Liberalized Remittance Scheme remittances &amp; foreign tour packages announced in various press releases, have been incorporated in Legislative section 206C(1G), via Income Tax amendments in the existing language of this section. There is no reduction in Tax collected at source\u00a0from 20% to 5%.<\/li>\n<li>The time limit for incorporation of Faceless Scheme for Income Tax Appellate Tribunals has been extended for one more year till 31st March, 2025.<\/li>\n<li>The threshold time limit for the advantage of reduced corporate tax rate applicable on Company under Section 115BAB of 15% plus surcharge, in case of a newly setup manufacturing Companies up to 31st March, 2025, has unfortunately not been extended further. So new manufacturing Co. which are incorporated on or after 1.4.2024 will be taxed at 22% and not 15%, if they opt for the new regime.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"What_is_provision_related_to_New_tax_regime_in_professional_tax\"><\/span><span style=\"color: #000080;\"><strong>What is provision related to New tax regime in professional tax? <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ans : P<strong>rofessional tax<\/strong> will not show in form 16 if in your declaration if you have opted for new tax regime, but when filing if you opt for old tax regime you can claim. Taxpayer cannot claim if you opt for new regime when filing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_time_limit_to_switch_between_the_old_and_new_income_tax_regime\"><\/span><span style=\"color: #000080;\"><strong>What are the time limit to switch between the old and new income tax regime? <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ans : The time limit to switch between the old and new income tax regime for filing income tax return for Assessment Year 2024-25 depends on your source of income:<\/p>\n<p>1.If Taxpayer are a salaried individual, you can switch between the regimes every year. The new tax regime will be the default option from Financial Year 2023-24, but you can opt for the old regime while filing Taxpayer return before the due date, which is July 31, 2024 for non-audit cases.<\/p>\n<p>2.If Taxpayer have income from business or profession, Taxpayer can switch between the regimes only once in your lifetime. Taxpayer will have to file Form 10IE before July 31, 2024 to opt for the new regime, and Taxpayer will not be able to switch back to the old regime in the future.<\/p>\n<p>In case employee opted for old tax regime at their company, then at the time of filings it will new regime or have to select old regime. Because new regime is default for every one<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Income_tax_Slab_Rate_AY_2024-25\"><\/span><span style=\"color: #000080;\"><strong>Income tax Slab Rate AY 2024-25:\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6910\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-scaled.jpg\" alt=\"Old Vs New tax regime - Recent Update\u00a01\" width=\"1994\" height=\"2560\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-scaled.jpg 1994w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-234x300.jpg 234w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-798x1024.jpg 798w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-768x986.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-1196x1536.jpg 1196w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-1595x2048.jpg 1595w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-1-800x1027.jpg 800w\" sizes=\"(max-width: 1994px) 100vw, 1994px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6911\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-scaled.jpg\" alt=\"Old Vs New tax regime - Recent Update\u00a0 2\" width=\"1801\" height=\"2560\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-scaled.jpg 1801w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-211x300.jpg 211w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-721x1024.jpg 721w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-768x1091.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-1081x1536.jpg 1081w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-1441x2048.jpg 1441w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-2-800x1137.jpg 800w\" sizes=\"(max-width: 1801px) 100vw, 1801px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6912\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3.jpg\" alt=\"Old Vs New tax regime - Recent Update\u00a0 3\" width=\"2277\" height=\"1301\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3.jpg 2277w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-300x171.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-1024x585.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-768x439.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-1536x878.jpg 1536w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-2048x1170.jpg 2048w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-3-800x457.jpg 800w\" sizes=\"(max-width: 2277px) 100vw, 2277px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6914\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-scaled.jpg\" alt=\"Old Vs New tax regime - Recent Update\u00a0 4.\" width=\"1809\" height=\"2560\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-scaled.jpg 1809w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-212x300.jpg 212w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-724x1024.jpg 724w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-768x1087.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-1085x1536.jpg 1085w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-1447x2048.jpg 1447w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/Old-Vs-New-tax-regime-Recent-Update-4-1-800x1132.jpg 800w\" sizes=\"(max-width: 1809px) 100vw, 1809px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Clarification_related_to_Old_Vs_New_tax_regime_%E2%80%93_Recent_Update\"><\/span><a href=\"https:\/\/carajput.com\/publications\/cbdt-clarification-related-to-old-vs-new-tax-regime-recent-update.pdf\"><span style=\"color: #000080;\"><strong>Clarification related to Old Vs New tax regime &#8211; Recent Update\u00a0<\/strong><\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6907\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/old-vs-new-.jpg\" alt=\"old and new tax regime\" width=\"753\" height=\"1052\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/old-vs-new-.jpg 753w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/old-vs-new--215x300.jpg 215w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2024\/02\/old-vs-new--733x1024.jpg 733w\" sizes=\"(max-width: 753px) 100vw, 753px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Opting new tax regime &#8211; Basic Conditions Income taxpayers who choose the New Tax regime&#8217;s concessional rates will have to give up some of the deductions and exemptions that were part of the previous tax system. There are a total of 70 deductions and exemptions that are prohibited, the most popular of which are stated &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1035],"tags":[1040],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6635"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=6635"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6635\/revisions"}],"predecessor-version":[{"id":6927,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/6635\/revisions\/6927"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=6635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=6635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=6635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}