Question 1

Which tax regime is better for salaried employees in FY2024-25?

Accepted Answer

The new tax regime is generally better if your deductions (80C + HRA exemption + others) are less than ₹3.75 lakh annually. If deductions exceed this, the old regime usually saves more tax.

Question 2

What is the standard deduction under new regime FY2024-25?

Accepted Answer

Under the new tax regime for FY2024-25, salaried employees get a standard deduction of ₹75,000 (increased from ₹50,000 in FY2023-24).

Question 3

Can I switch tax regime every year?

Accepted Answer

Salaried employees can switch between old and new tax regimes every financial year by informing their employer before April.

Old vs New Tax Regime

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