Practical Case Studies on Old vs. New Income Tax Regime.

Introduction: In the bustling city of Mumbai, India, resides Priya, a middle-class working professional. She finds herself grappling with a challenging decision: whether to opt for the New Tax Regime introduced by the Government or stick with the familiar Old Regime. This decision holds immense significance for Priya and millions of other Indian taxpayers, impacting their financial stability...

Is the New Tax Regime appealing enough? : Practical difficulty of New Tax Regime.

Background: Utilization Trends of the New Tax Regime The dual objectives outlined in the budget speech for the new tax regime are recognized, yet there is a noticeable reluctance to fully embrace it. This hesitation seems to originate from the elimination of numerous exemptions and deductions linked to choosing the new regime. Considering that Indian society tends to prioritize saving for...