New tax regime 2024: Learn the differences

Learn the differences, advantages and disadvantages of new and old tax regimes for individual taxpayers from AY 2024 -25. Find out how to opt for or opt out of the regimes, and what deductions and exemptions are available in each regime . Compare the new and old tax regimes for FY 2024 -25 and AY 2025-26, with revised slabs, deductions and exemptions. Learn how to calculate your income tax , surcharge and cess under the new tax regime . 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. 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.