TaxTMI 
TaxTMI 
Please guide while filling ITR return [salary income] what one should opt for ITR filling old or new regime?
Which format is giving more benefiting?
Thanx in Advance.
Income tax return filling
03 Jul 2024 
3 Replies 
834 Views Asked by
Tax regime choice affects deduction availability; choose old regime to retain common salary deductions or compare using calculators.
Taxpayers filing salary income returns must compare the Old tax regime, which permits common salary deductions (housing loan interest, professional tax, LTA, HRA), with the New tax regime, which disallows most such deductions; use reliable tax calculators or seek professional advice to determine which regime yields lower tax. (AI Summary)
Taxpayers filing salary income returns must compare the Old tax regime, which permits common salary deductions (housing loan interest, professional tax, LTA, HRA), with the New tax regime, which disallows most such deductions; use reliable tax calculators or seek professional advice to determine which regime yields lower tax. (AI Summary)