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🆕 Latest Updates (Recent Changes)
🟢 1. New Tax Regime is Default
Now new regime is default
If you don’t select anything → new regime will apply
You must choose old regime manually in ITR
💸 2. Rebate Increased (New Regime)
Income up to ₹7 lakh → ZERO tax
(Earlier it was ₹5 lakh in old regime)
🧾 3. Standard Deduction Added in New Regime
₹50,000 deduction now available in new regime also
Earlier only in old regime
📉 4. New Tax Slabs (New Regime)
₹0 – ₹3 lakh → Nil
₹3 – ₹6 lakh → 5%
₹6 – ₹9 lakh → 10%
₹9 – ₹12 lakh → 15%
₹12 – ₹15 lakh → 20%
₹15 lakh+ → 30%

👉 More slabs = lower tax burden

🪙 5. Surcharge Reduced
Highest surcharge reduced from 37% to 25%
Benefit for high-income taxpayers (new regime)
⚠️ 6. Deductions Difference
Old Regime:
✅ HRA
✅ 80C (LIC, PF, ELSS)
✅ 80D (medical insurance)
✅ Home loan benefits
New Regime:
❌ Most deductions not allowed
✅ Only limited deductions (like standard deduction)
📊 Simple Comparison
Feature Old Regime New Regime (Updated)
Default ❌ No ✅ Yes
Tax Rates Higher Lower
Rebate ₹5 lakh ₹7 lakh
Standard Deduction ✅ Yes ✅ Yes (new)
Deductions Many Very limited
Complexity High Simple
👍 Final Conclusion
🏠 Old Regime better if:
You claim HRA + deductions
You invest (LIC, PF, etc.)
🧾 New Regime better if:
You have no major deductions
Want simple & lower tax rates

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