Nothing changed in tax rates. But the income tax system is a little different now

TNN

Feb 2, 2026 | 18:03 IST

If tax saving is your goal, read the The Times of India – EY guide for some handy hints and tips that, will help you avoid penalties and score some financial winners

India’s income-tax system offers two choices. The new tax regime which is now the default option, provides lower tax rates but with fewer exemptions. The old tax regime continues to allow deductions such as House Rent Allowance (HRA), Leave Travel Allowance (LTA), deduction towards life and health insurance premium, principal portion towards housing loan and housing loan interest.

These are not available under the new tax regime. However, with the Finance Act, 2025 extending concessional slab rates up to 24 lakh, the appeal of the old regime has reduced.

TOI

TOI

Nothing changed in tax rates. But the income tax system is a little different now

If tax saving is your goal, read the The Times of India – EY guide for some handy hints and tips that, will help you avoid penalties and score some financial winners

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TOI

Nothing changed in tax rates. But the income tax system is a little different now

If tax saving is your goal, read the The Times of India – EY guide for some handy hints and tips that, will help you avoid penalties and score some financial winners

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