Old or New Tax Regime which one is better for you
In my 12 years of practice as a Chartered Accountant, I’ve guided numerous clients through the complexities of tax planning, particularly in choosing between the old and new tax regimes. The old tax regime allows for numerous deductions and is advantageous for those with significant investments and expenses, offering potential tax savings. Conversely, the new regime, with its simplified tax rates but limited deductions, suits those preferring simplicity and minimal fiscal engagements. Understanding which regime to choose involves analyzing one’s financial situation annually to optimize tax benefits.
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