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Should I switch to the new tax regime with zero tax for income up to 12 lakhs?

T S Khurana |447 Answers |Ask -Follow

Tax Expert - Answered on Apr 04, 2025

A certified management accountant since 1993, T S Khurana is a fellow member of The Institute of Cost Accountants of India. His areas of expertise are income tax, specifically litigation cases, and GST.

Since the last 21 years, he has also been providing expert advice on financial matters, including investments and diversification of funds, and wealth building in the long term to his clients.
He believes that investment in real estate is the safest way for better returns and wealth generation over a period of time.

A former chairman of the Chandigarh Chapter of Institute of Cost Accountants of India, T S Khurana has also served as member of its technical committee.... more

Question by ABHISHEK on Mar 26, 2025Hindi

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Dear Sir, my CTC is 12 Lakh per annum and my tax deduction till this financial year is at old regime as I had Home loan to declare, should I need to change the regime? as per latest budget salaried person till 12 Lakh per annum will have zero taxation. Please advise

Ans: Limit of Rs.12.00 (L) is effective from 01.04.2025 only (F/Y 2025-26), under New Tax Regime. Please calculate your tax liability under both Regimes & adopt the one, which is most suitable in your case.
Most welcome for any further clarifications. Thanks.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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