hamburger
×
Digit General Insurance Logo

General

arrow

General Products

Simple & Transparent! Policies that match all your insurance needs.

General Insurance up
car insurance icon Car Insurance
up
Two Wheeler icon Two Wheeler Insurance
up
Commercial Vehicle icon Commercial Vehicle Insurance
up
Health Insurance Health Insurance
up
Property icon Property Insurance
up
Travel icon Travel Insurance
up
Business icon Business Insurance
up
back Car Insurance
Car Insurance
Comprehensive Car Insurance
Third Party Car Insurance
Pay as you Drive Car Insurance
Electric Car Insurance
Zero Dep Car Insurance
Car Insurance Calculator
New Car Insurance
Old Car Insurance
Own Damage Car Insurance
Renew Expired Car Insurance
Bumper to Bumper Car Insurance
RTI in Car Insurance
IDV in Car Insurance
NCB in Car Insurance
Car Insurance Add-ons
back Two Wheeler Insurance
Bike Insurance
Comprehensive Bike Insurance
Third Party Bike Insurance
Electric Bike Insurance
Zero Dep Bike Insurance
Own Damage Bike Insurance
Renew Expired Bike Insurance
Bike Insurance Premium Calculator
New Bike Insurance
Old Bike Insurance
IDV in Bike Insurance
NCB in Bike Insurance
Bike Insurance Add-ons
Honda Activa Insurance
back Commercial Vehicle Insurance
Commercial Vehicle Insurance
Auto Rickshaw Insurance
e-Rickshaw Insurance
Taxi Insurance
Tata Ace Insurance
Tractor Insurance
Truck Insurance
Bus Insurance
JCB Insurance
Commercial Van Insurance
Trailer Insurance
Excavator Insurance
Passenger Carrying Vehicle Insurance
Goods Carrying Vehicle Insurance
Heavy Vehicle Insurance
Commercial Vehicle Third Party Insurance
back Health Insurance
Health Insurance
Cashless Health Insurance
PED Cover in Health Insurance
Health Insurance Premium Calculator
Health Insurance Portability
Super Top Up Health Insurance
Health Insurance Tax Benefits
Waiting Period in Health Insurance
Health Insurance for Parents
Comprehensive Health Insurance
Group Medical Health Insurance
Family Health Insurance
Family Floater Health Insurance
Senior Citizens Health Insurance
Super Top Up for Senior Citizens
back Property Insurance
Property Insurance
Bharat Griha Raksha Policy
Bharat Sookshma Udyam Suraksha Policy
Bharat Laghu Udyam Suraksha Policy
Home Insurance
Home Insurance for Home Loan
Building Insurance
Burglary Insurance
Fire Insurance
Office Insurance
Shop Insurance
back Travel Insurance
International Travel Insurance
Schengen Travel Insurance
Family Travel Insurance
Multi-Trip Travel Insurance
New
Student Travel Insurance
Golfers Insurance
New
back Business Insurance
Workmen Compensation Insurance
Contractors All Risk Insurance
Contractors Plant & Machinery Insurance
D&O Liability Insurance
Erection All Risk Insurance
Fidelity Insurance
General Liability Insurance
Machinery Breakdown Insurance
google-play-icon

Rated App

37K+ Reviews

app-store-icon

Rated App

7K+ Reviews

Scan to download

Life

arrow

Life Products

Digit Life is here! To help you save & secure your loved ones' future in the most simplified way.

Life Insurance up
Term Insurance icons Term Life
up
Savings Plan logo Savings Plan
up
Retirement and Pension Plans Icons Retirement and Pension Plans
up
Group Insurance product icon Group Life
up
other product insurance icon Others Products
up
back Term Life
Term Life Insurance
New
Single Premium Term Insurance
Term Insurance Calculator
Term Insurance with Critical Illness Cover
1 Crore Term Insurance
back Savings Plan
Digit ICON Guaranteed Returns Savings Plan
New
Savings Plan
Guaranteed Returns Plan
Guaranteed Income Plan
back Retirement and Pension Plans
Retirement and Pension Plans
Guaranteed Pension Plan
Retirement Investment Plan
Single Premium Pension Plan
Unit LInked Pension Plan
back Group Life
Group Term Life Insurance
Group Long Term Plan
Group Micro Term Insurance
Group Credit Life Insurance
back Others Products
Child Insurance Plans
Protection Plans
Income Plans
Endowment Plans
Whole Life Insurance
Money Back Policy
Investment Plans
ULIP Plans
google-play-icon

Rated App

37K+ Reviews

app-store-icon

Rated App

7K+ Reviews

Scan to download

Claims

arrow

Claims

We'll be there! Whenever and however you'll need us.

Claims up
Support icon Customer Support
up
Motor icon Motor Claims
up
Health icon Health Claims
up
back Customer Support
Email & Helpline Numbers
File Travel Claims
Digit Self Serve Chat Bot
Check Service Ticket Status
Download Digit App
Check Digit Policy Status
Link Your Digit Policy
Download Digit Policy
Customer Service
Grievance Redressal Procedure
back Motor Claims
File Motor Claims
Track Motor Claim Status
Digit Cashless Garages
back Health Claims
File Health Claims
Track Health Claim Status
Digit Cashless Hospitals
List of Excluded Hospitals
Anywhere Cashless Hospitals
Download Health e-Card
Wellness Benefits
google-play-icon

Rated App

37K+ Reviews

app-store-icon

Rated App

7K+ Reviews

Scan to download

Renewals up
renewals General
up
renewals Life
up
back General
General Renewals
back Life
Life Renewals (coming soon)

Renewals

arrow
General
General Renewals
Life
Life Renewals (coming soon)
Become an Agent up
agent General
up
agent Life
up
back General
General Insurance Agent / POSP
back Life
Life Insurance Agent / POSP

Become an Agent

arrow
General
General Insurance Agent / POSP
Life
Life Insurance Agent / POSP

Resources

arrow

Resources

All the more reasons to feel the Digit simplicity in your life!

Resources up
Other Resources Icon Exclusive Features
up
Support Tools & Calculators
up
Travel Guides Travel Guides
up
Reports Transparency Report
up
Others Others
up
back Exclusive Features
Check Pending Challans
Check Credit Score for FREE
Check PUC Expiry
Vehicle Owner Details (VAHAN)
Vehicle Report Card
Documents in DigiLocker
Generate ABHA ID
Insurance Dictionary
back Tools & Calculators
HRA Calculator
EMI Calculator
APY Calculator
PPF Calculator
SIP/Lumpsum Calculator
FD/RD Calculator
Income Tax Calculator
BMI Calculator
Carb Calculator
back Travel Guides
Locate Passport Offices
Visa Free Countries for Indians
e-Visa Countries for Indians
Visa on Arrival Countries for Indians
Schengen Visa from India
Passport Free Countries for Indian Citizens
Indian Passport Ranking
Countries Accepting Indian Driving Licence
International Driving License (IDL)
back Transparency Report
Transparency Report 11.0
Transparency Report 10.0
Transparency Report 9.0
Previous Reports
back Others
Marine Open Certificate Issuance
IRDAI's Call Centre Feedback Survey
google-play-icon

Rated App

37K+ Reviews

app-store-icon

Rated App

7K+ Reviews

Scan to download

google-play-icon

Rated App

37K+ Reviews

app-store-icon

Rated App

7K+ Reviews

Download Digit App
login Login
phone icon
up arrow
car Digit General
connect via WhatsApp 70260 61234 mail support hello@godigit.com
account_circle
person My Profile
download Download Policy
Logout
connect via WhatsApp 70260 61234 mail support hello@godigit.com

Our WhatsApp number cannot be used for calls. This is a chat only number.

true false false false false false false false false
Powered By Digit
  1. Digit Insurance
  2. Income Tax
  3. New Income Tax Regime
close
Do the Digit Insurance

Trusted by 5 Crore+ Indians

  • Pay as you Drive
    Car Side View
    Car
  • Motorcycle Side View
    Bike
  • 9000+ Hospitals
    Health
    Health
  • auto rikshaw
    Commercial
  • Covering Seniors
    Travel Airplane
    Travel
  • Simple Cottege House
    Home
Don’t Know Reg. No?
keyboard_arrow_right
It’s a New Vehicle
keyboard_arrow_right
Renew Policy keyboard_arrow_right
Download Policy
keyboard_arrow_right

I agree to the  Terms & Conditions

contactDetails

Add Mobile Number

Terms and conditions

    keyboard_arrow_right
    It’s a New Vehicle
    keyboard_arrow_right
    Renew Policy
    keyboard_arrow_right
    Download Policy
    keyboard_arrow_right

    I agree to the  Terms & Conditions

    I agree to the  Terms & Conditions

    Download Policy
    keyboard_arrow_right
    Multi trip option covers unlimited trips for a year
    • Country
    • Geography

    Popular Countries (You can select more than one)


    DONE
    Please select geography
    Valid till {{travelCtrl.getValidDate(travelCtrl.policyStartDate,364)}}

    I agree to the  Terms & Conditions

    Please accept the T&C

    As mandated by Spanish Authorities your travel insurance needs to extend 15 days after your trip ends.
    We will extend your coverage period accordingly.

    false false false false false false false false false false false false

    Port my existing Policy

    keyboard_arrow_right
    or renew digit policy keyboard_arrow_right
    whatsappIcon
    Chat with an expert

    I agree to the  Terms & Conditions

    Please accept the T&C

    Cardiology

    arrowRight

    -

    (Incl 18% GST)

    Port My Policy

    keyboard_arrow_right
    Renew Policy keyboard_arrow_right
    whatsappIcon
    Chat with an expert

    I agree to the  Terms & Conditions

    Sorry!

    {{abs.isPartnerAvailable ? 'We are facing some issue in processing your request.' : 'This proposal requires further underwriting evaluation. You are requested to visit our nearest branch and seek suitable options for your insurance needs.'}}

    We require some time to check & resolve the issue. If customers policy is expiring soon, please proceed with other insurers to issue the policy.

    While we would never want to lose a customer, you are requested to consider exploring other insurers in case your policy is expiring soon.

    You can select more than one member

    • -+ Max kids
      (s)
    Don’t Know Reg. No?
    keyboard_arrow_right
    It’s a New Vehicle
    keyboard_arrow_right
    Renew Policy
    keyboard_arrow_right
    Download Policy
    keyboard_arrow_right

    I agree to the  Terms & Conditions

    Terms and conditions

    Terms and conditions

    Do the Digit Insurance
    • Pay as you Drive

      Car
    • Bike
    • 9000+ Hospitals

      Health
    • Commercial
    • Covering Seniors

      Travel
    • Home

    New Tax Regime FY 2025-26 (AY 2026-27): What Taxpayers Should Know?

    new income tax regime

    From FY 2023-24, the new tax regime is proposed to be the default regime. The new tax regime is supposed to simplify the tax structure by offering lower tax rates, which makes it attractive for certain taxpayers; however, they are required to forego certain new tax deductions and exemptions to opt for the new regime.

    Therefore, it is crucial for taxpayers to assess their finances including income from all the sources and tax-saving investments to make the most of the new tax regime.

    Let’s look at the new tax regime rates and other changes in it for the financial year 2025-26.

    Team Digit

    Table of Contents

    arrow-icon

    New Income Tax Regime Rates for FY 2025-26 (AY 2026-27)

    The Union Budget 2025 proposed changes in the existing tax slabs of the new income tax regime, which are applicable from April 1, 2025, onwards. Here are the new tax rates:

    Income Tax Slabs Rate of Taxation
    Up to ₹4,00,000 Nil
    Between ₹4,00,001 and ₹8,00,000  5% of your total income that exceeds ₹4,00,000 
    Between ₹8,00,001 and ₹12,00,000   ₹20,000 + 10% of your total income that exceeds ₹8,00,000 
    Between ₹12,00,001 and ₹16,00,000   ₹60,000 + 15% of your total income that exceeds ₹12,00,000 
    Between ₹16,00,001 and ₹20,00,000   ₹1,20,000 + 20% of your total income that exceeds ₹16,00,000 
    Between ₹20,00,001 and ₹24,00,000  ₹2,00,000 + 25% of your total income that exceeds ₹20,00,000 
    Above ₹24,00,000   ₹3,00,000 + 30% of your total income that exceeds ₹24,00,000

    Under this revised tax structure for FY 2025-26, individuals with earnings up to ₹12 lakh will not have to pay any tax thanks to an increased tax rebate of ₹60,000, under Section 87A.

    What are the Changes in the New Tax Regime for FY 2025-26 (AY 2026-27)?

    In addition to changes in the slabs in the new tax regime, Budget 2025 proposed some more changes in the rules for the new tax regime, which are as follows.

    Note that apart from these changes, all other rules for the new tax regime remain the same as for FY 2024-25.

    For Taxpayers up to 60 Years

    • Income up to ₹12 lakh is now tax-free under the new tax regime.
    • The basic exemption limit is hiked to ₹4 lakh from ₹3 lakh in the previous fiscal year.
    • Salaried employees can now avail a rebate of ₹60,000 under Section 87A. Earlier this limit was ₹25,000.
    • The Budget also provided a marginal relief benefit under Section 87A for incomes up to ₹12.75 lakh. It ensures that taxpayers whose income exceeds ₹12 lakh by a small margin do not have to pay significantly more tax.

    For Taxpayers Above 60 Years

    • The 2025 Budget doubled the tax deduction limit on interest income from ₹50,000 to ₹1 lakh.
    • The TDS limit on fixed deposit interest has also been raised to ₹1 lakh annually.
    • Now, withdrawals from National Savings Scheme (NSS) account after August 29, 2024, are from tax.

    An Illustration Explaining Tax Free Income up to 12 Lakhs

    Let’s understand how your income up to ₹12 lakhs can be tax-free with the help of an example:

    Suppose your annual salary is ₹12,75,000.

    Then,

    • Standard Deduction: ₹75,000
    • Taxable Income: ₹12,00,000
    • Tax calculation as per new regime tax slab rates = ₹60,000
    • Rebate u/s 87A: ₹60,000
    • Total tax after rebate: ₹0

    So, for an income of ₹12.75 lakh, the total tax payable under the new tax regime as per Budget 2025 is NIL.

    New Income Tax Regime Rates for FY 2024-25 (AY 2025-26)

    If you want to know the new tax slabs revised by Union Budget 2024, to plan and calculate your tax, check out the table below. These new tax slab rates are applicable for FY 2024-25.

    Income Tax Slabs Rate of Taxation
    Up to ₹3,00,000  Nil
    Between ₹3,00,001 and ₹7,00,000   5% of your total income that exceeds ₹3,00,000 
    Between ₹7,00,001 and ₹10,00,000   ₹20,000 + 10% of your total income that exceeds ₹7,00,000 
    Between ₹10,00,001 and ₹12,00,000  ₹50,000 + 15% of your total income that exceeds ₹10,00,000 
    Between ₹12,00,001 and ₹15,00,000 ₹80,000 + 20% of your total income that exceeds ₹12,00,000 
    Above ₹15,00,001   ₹1,40,000 + 30% of your total income that exceeds ₹15,00,000

    What are the Existing Changes in the New Tax Regime for FY 2024-25 (AY 2025-26)?

    For FY 2024-25, Budget 2024 changed the following things in the rules for the new tax regime:

    • The standard deduction has been hiked to ₹75,000 starting from April 1, 2024. Earlier, the limit was ₹50,000.
    • The standard deduction limit for family pensioners also hiked to ₹25,000 from ₹15,000.
    • NPS contribution limit for private sector employees raised from 10% to 14% of their basic salary. So, now for both private and public sector employees, the deduction limit is 14%.

    Tax Deductions and Exemptions Under New Tax Regime for FY 2025-26

    The Union Budget 2025 altered a few income tax deductions and exemptions in the new tax regime. Here is a list of all the new tax deductions available under the new income tax regime that are allowed and not allowed for both financial years, i.e. FY 2024-25 and FY 2025-26.

    Go through these options for tax deduction in the new tax regime to determine your tax liability.

    Tax Deductions and Exemptions Allowed Under New Tax Regime

    Category Tax Deductions and Exemptions ALLOWED
    Standard Deduction
    • Standard deduction of ₹75,000.
    • Standard deduction of ₹25,000 for family pensioners or 1/3 of the family pension, whichever is less.
    Basic Exemption Increased to ₹4 lakh by Budget 2025, from ₹3 lakh.
    NPS
    • The benefit of any NPS contribution by the employer to the employee's NPS account is up to 14% of the salary for all employees.
    • The lump-sum maturity amount received from the NPS account.
    Section 80JJAA Up to 30% of additional employee costs can be deducted.
    Agni veer Corpus Fund Any contribution made to the Agni veer Corpus Fund.
    Home Loan The interest component of a home loan borrowed for a rented property.
    PPF and EPF
    • Tax deduction on employers' contributions to their employees' NPS EPF and superannuation accounts.
    • Taxpayers receiving interest from their EPF accounts for up to 9.5%.
    • Interest or maturity amount from PPF.
    Savings Schemes
    • Interest received from Post Office Savings Account.
    • Maturity amount from a life insurance policy.
    • Interests and maturity amounts received from the Sukanya Samriddhi Account.
    Allowances
    • Travel allowances to disabled employees, conveyance, travel, and daily allowances.
    • Up to ₹20 lakh exemption on gratuity for non-government employees and exemption on entire gratuity for government employees.
    • Gifts received from employers up to ₹5,000.
    Retirement The leave encashment during retirement, monetary benefits received from employers for voluntary retirement up to ₹5 lakhs.
    Other Education scholarships, retrenchment compensation, and monetary benefits for retirement cum death.

    Tax Deductions and Exemptions Not Allowed Under New Tax Regime

    As per the new tax regime rules, taxpayers opting for this income tax regime will have to forego up to 70 exemptions and deductions from the new tax regime in order to avail themselves of the benefits of the lowered new tax slab rates.

    Some of the common tax deductions in the new tax regime that taxpayers cannot claim are:

    Category Tax Deductions and Exemptions NOT ALLOWED
    Salary Deductions  HRA, LTA, professional tax of ₹2,500, professional tax, and entertainment allowance (applicable for government employees).
    Section 80C  Investments made in the Employees’ Provident Fund, life insurance premium, and Public Provident Fund.
    Home Loans 
    • Interest and principal amount of housing loans up to ₹1.5 lakhs.
    • Interest payment of home loan for self-occupied/ vacant property under Section 24(b).
    • Interest payment up to ₹2 lakhs for purchase/construction/ repair/reconstruction of house property under section 24(b).
    • Also, Budget 2025 proposed that two self-occupied properties will be tax-free. Earlier, only one self-occupied house was treated as tax-free, while the second house was taxed based on its notional rental value.
    Section 80CCD(1B) 
    • The benefits available for NPS contributions under this Section will now apply to contributions made to NPS Vatsalya accounts, after Budget 2025.
    • So, a deduction of ₹50,000 is allowed under the NPS Vatsalya scheme only for the old regime.
    Section 80E  Interest paid on the student loan debt under Section 80E can no longer be claimed for tax relief. 
    Section 80G  Donation or expenses in scientific research, National Defense Fund, Prime Minister’s National Relief Fund, The National Foundation for Communal Harmony, National/State Blood Transfusion Council.
    Savings Account 
    • Interest received from Savings Account under Section 80TTA and 80TTB. After Budget 2025, no TDS needs to be deducted if the interest income does not exceed ₹50,000. Previously, this limit was ₹40,000.
    • Special allowances under Section 10(14).
      Business professionals and owners in the Special Economic Zone cannot claim tax exemption under Section 10AA.
    Other  
    • Tax deduction under Section 35(1)(ii), 35(2AA), 32AD, 32(ii) (a), 33AB, 35(1)(iii), 33ABA, 35(1)(ii), 35CCC(a), and 35AD of the IT Act. Deductions as specified under Chapter VI-A such as 80IA, 80CCC, 80C, 80CCD, 80D, 80CCG, 80DDB, 80EE, 80E, 80EEA, 80DD, 80EEB, 80GG, 80IB, 80IAC, and 80IAB.
    • Minor child, helper allowances, and allowances for children's education.

    You May Also Like to Read

    Income Tax Slabs For Salaried Individuals
    Income Tax Slabs For Senior Citizens
    Income Tax Slabs For Women
    Old vs New Tax Regime
    Income Tax Deductions Under Section 80C
    Income Tax Slabs in India for FY 25-26

    How to Save Tax Under New Tax Regime?

    Reducing tax liability while simultaneously achieving their financial goals is the main aim of every taxpayer as soon as the new fiscal year begins.

    Since FY 2025-26 has revived most of the new tax regime deductions and benefits, the scope of tax saving under the new tax regime has become more limited than the old regime. So, here are some ways to save tax under the new regime:

    • Invest in Tax-Efficient Options: Investing in options that offer tax-saving benefits along with low-risk returns should be every taxpayer’s priority. Check which instruments are available under the new regime and which are not before you start investing.
    • Claim all the Deductions Possible: You can significantly lower your taxable income by utilizing all the relevant tax deductions allowed under the new tax regime, such as for home loans, etc.

    FAQs about New Income Tax Regime

    How does the new tax regime work?

    The new tax regime was introduced by Budget 2020 to offer lower tax rates but with fewer deductions and exemptions under Sections 80C, 80D, HRA, and others. After Budget 2023 it became the default tax regime. So, taxpayers need to assess whether the reduced tax rates are beneficial for them or do they want to avail exemptions and deductions.

    The new tax regime was introduced by Budget 2020 to offer lower tax rates but with fewer deductions and exemptions under Sections 80C, 80D, HRA, and others. After Budget 2023 it became the default tax regime. So, taxpayers need to assess whether the reduced tax rates are beneficial for them or do they want to avail exemptions and deductions.

    What exemption is available under the new tax regime?

    Taxpayers are given a full tax rebate on income up to ₹12 lakhs under the new tax regime. This means that taxpayers with an income of up to ₹12 lakhs will not have to pay any tax at all under the new tax regime!

    Taxpayers are given a full tax rebate on income up to ₹12 lakhs under the new tax regime. This means that taxpayers with an income of up to ₹12 lakhs will not have to pay any tax at all under the new tax regime!

    Which is better for salaried taxpayers: the new tax regime or the old regime?

    For salaried employees, the new tax slabs 2025 are better for you if you have invested less than ₹4 lakhs in tax saving schemes; if you’ve have invested more than ₹4 lakhs then go for the old tax regime. Additionally, it also depends on your salary.

    For salaried employees, the new tax slabs 2025 are better for you if you have invested less than ₹4 lakhs in tax saving schemes; if you’ve have invested more than ₹4 lakhs then go for the old tax regime. Additionally, it also depends on your salary.

    What is the advantage of the new tax regime?

    The tax rate under the new tax regime is low and more suitable for low-income taxpayers. Also, as per the rules for the new tax regime, taxpayers get a standard deduction of ₹75,000, have zero tax liability if their income is up to ₹12 lakhs, and can enjoy basic exemption limit up to an income of ₹4 lakhs.

    The tax rate under the new tax regime is low and more suitable for low-income taxpayers. Also, as per the rules for the new tax regime, taxpayers get a standard deduction of ₹75,000, have zero tax liability if their income is up to ₹12 lakhs, and can enjoy basic exemption limit up to an income of ₹4 lakhs.

    What is the disadvantage of the new tax regime?

    The tax rate under the new tax regime might be low but it does not offer the benefits of claiming almost 70 tax exemptions and deductions that are available under the old regime.

    The tax rate under the new tax regime might be low but it does not offer the benefits of claiming almost 70 tax exemptions and deductions that are available under the old regime.

    Can I claim tax deductions under Section 80C for the new tax regime?

    No, if you choose the new tax regime you are not eligible to claim tax benefits under section 80C; however, they are available under the old tax regime.

    No, if you choose the new tax regime you are not eligible to claim tax benefits under section 80C; however, they are available under the old tax regime.

    What deductions and exemptions are allowed in the new tax regime?

    Some common exemptions and deductions under the new tax regime are available such as standard deduction, home loans, PPF, EPF, NPS, Agniveer Corpus Fund, savings schemes, allowances, retirement, deductions under Section 80JJAA, and more.

    Some common exemptions and deductions under the new tax regime are available such as standard deduction, home loans, PPF, EPF, NPS, Agniveer Corpus Fund, savings schemes, allowances, retirement, deductions under Section 80JJAA, and more.

    What is the new tax regime in 2025?

    The new tax regime is now the default tax regime and the income tax slab under the new tax regime for the fiscal year 2025-26 was revised.

    The new tax regime is now the default tax regime and the income tax slab under the new tax regime for the fiscal year 2025-26 was revised.

    Who will benefit from the new tax regime?

    The new tax regime is designed to benefit taxpayers who do not have significant deductions or exemptions to claim. Also, it is beneficial for people in the lower income bracket.

    The new tax regime is designed to benefit taxpayers who do not have significant deductions or exemptions to claim. Also, it is beneficial for people in the lower income bracket.

    How much income is tax-free under new regime in India?

    Under the new tax regime, income up to ₹12,00,000 is tax-free, after considering standard deduction of ₹75,000 and rebate of ₹60,000 under section 87A.

    Under the new tax regime, income up to ₹12,00,000 is tax-free, after considering standard deduction of ₹75,000 and rebate of ₹60,000 under section 87A.

    Can I switch to the old tax regime in future fiscal years if I choose the new tax regime this year?

    Yes, individual taxpayers can switch to the old tax regime in the next financial year provided they do not have business income.

    Yes, individual taxpayers can switch to the old tax regime in the next financial year provided they do not have business income.

    Who is not allowed to switch between the two regimes?

    Individual taxpayers having business income are not allowed to switch between the two tax regimes every year.

    Individual taxpayers having business income are not allowed to switch between the two tax regimes every year.

    What happens if I do not specify any tax regime in the beginning of the year?

    If an individual taxpayer does not specify their preferred regime, their taxes will be deducted based on the new tax regime as it is now the default regime. However, they can switch to their desired regime at the time of filing the income tax return.

    If an individual taxpayer does not specify their preferred regime, their taxes will be deducted based on the new tax regime as it is now the default regime. However, they can switch to their desired regime at the time of filing the income tax return.

    Can I claim HRA in the new tax regime?

    No, HRA (House Rent Allowance) cannot be claimed as a deduction in the new tax regime.

    No, HRA (House Rent Allowance) cannot be claimed as a deduction in the new tax regime.

    How can I reduce my tax liability in the income tax new tax regime?

    You can do so by claiming the deductions available under the new tax regime like the standard deduction and family pension deduction. You can also invest in the few tax-saving options available for this tax regime.

    You can do so by claiming the deductions available under the new tax regime like the standard deduction and family pension deduction. You can also invest in the few tax-saving options available for this tax regime.

    Is there ₹50,000 standard deduction in the new tax regime?

    No, the standard deduction limit under the new tax regime has been hiked to ₹75,000 from FY 2024-25. The ₹50,000 standard deduction was available only for FY 2023-24.

    No, the standard deduction limit under the new tax regime has been hiked to ₹75,000 from FY 2024-25. The ₹50,000 standard deduction was available only for FY 2023-24.

    Is deduction under 80D allowed in the new tax regime?

    No, deductions under Section 80D for medical insurance premiums are not allowed for those who have opted for the new tax regime.

    No, deductions under Section 80D for medical insurance premiums are not allowed for those who have opted for the new tax regime.

    Do I have to pay tax on the PPF interest under the new tax regime?

    No, the interest earned on the PPF account is tax-free under both the old and new tax regimes.

    No, the interest earned on the PPF account is tax-free under both the old and new tax regimes.

    Can I claim home loan interest in the new tax regime?

    Yes, under the new tax regime, you can claim a deduction on the interest component of a home loan borrowed only for a rented property.

    Yes, under the new tax regime, you can claim a deduction on the interest component of a home loan borrowed only for a rented property.

    Do senior citizens have any specific tax benefits or exemptions under the new income tax regime in India?

    No, the new tax regime rates and deductions are the same for all taxpayers, irrespective of their age. However, senior citizens and super senior citizens have reduced tax rates under the old tax regime, along with higher basic exemption limits and other deductions.

    No, the new tax regime rates and deductions are the same for all taxpayers, irrespective of their age. However, senior citizens and super senior citizens have reduced tax rates under the old tax regime, along with higher basic exemption limits and other deductions.

    How much tax do senior citizens have to pay under income tax new tax regime?

    As per the new tax regime, all taxpayers including senior citizens don’t have to pay any tax up to ₹4,00,000. Then as per the slabs under the new tax regime, their tax will increase based on their salary. However, to save tax, they can invest in a few tax-saving options available under the new regime.

    As per the new tax regime, all taxpayers including senior citizens don’t have to pay any tax up to ₹4,00,000. Then as per the slabs under the new tax regime, their tax will increase based on their salary. However, to save tax, they can invest in a few tax-saving options available under the new regime.

    How to calculate income tax under the new tax regime?

    Calculating income tax under the new tax regime can be done easily by using an income tax calculator available online by determining your total income, which includes your salary and any other sources, then applying new tax slabs and deducting certain eligible exemptions and rebates.

    Calculating income tax under the new tax regime can be done easily by using an income tax calculator available online by determining your total income, which includes your salary and any other sources, then applying new tax slabs and deducting certain eligible exemptions and rebates.

    Please try one more time!

    Request URL:
    Status Code:
    Request Payload:
    Response Data:

    Other Important Articles about Income Tax in India

    Income Tax Slabs & Rates in India
    Section 43B of Income Tax Act
    Deductions & Exemptions in New Tax Regime
    Section 139 of the Income Tax Act
    Home Loan Interest Deduction/Exemptions
    Income Tax Slab for Women
    Section 276B of Income Tax Act
    Section 115BAC of Income Tax Act
    Long Term vs Short Term Capital Gains
    Income Tax Slabs for Senior Citizens
    What is Hindu Undivided Family (HUF)?
    Mutual Fund Investing for HUFs
    Deed of Partition in HUF
    What is Section 80CCD of Income Tax Act?
    Who is a Karta in HUF?
    What is Profit After Tax (PAT)?
    Section 194A of Income Tax Act
    Capital Gains Tax on Property
    New Rules in Income Tax
    Difference Between Old and New Tax Regimes
    How to Calculate Income Tax for HUFs?
    How to Save Income Tax in India?
    Section 80U of Income Tax Act
    What is Form 26AS?
    How to Download ITR Acknowledgement?
    Section 24B of Income Tax Act
    Section 80GGA of Income Tax Act
    Dissolution of HUF
    Deferred Tax Assets & Liability
    HUF Income Tax Benefits
    How to File Income Tax Return?
    Section 195 of Income Tax Act
    What is TAN Number?
    Income Tax Deduction Under Section 80C
    Difference Between Tax Deduction and Tax Credit
    What is Green Tax in India?
    Section 80CCC of Income Tax Act
    Section 44AB of Income Tax Act
    Income Tax Slab for Senior & Super Senior Citizens
    Tax Exemption Rules on Marriage Gifts
    How to Calculate Advance Tax Liability?
    Section 80CCG of Income Tax Act
    Tax Rebate Under Section 87A
    How to Check Income Tax Refund Status Online?
    Income Tax Return Filing for NRIs
    Section 80DDB of Income Tax Act
    Difference Between Section 80G and 80GGA
    Benefits of Filing ITR
    ITR Filing for Freelancers
    What is Coparcenary in HUF?
    What Happens if ITR is Not Filed?
    Section 194I of Income Tax Act
    What is Income Tax Return?
    Section 148 of Income Tax Act
    Section 44AD of Income Tax Act
    What is Form 16 of Income Tax?
    What is HUF GST Registration?
    How to e-Verify Your ITR Online?
    How to Calculate Profit Before Tax?
    Section 40A(3) of Income Tax Act
    Income Tax Slabs & Exemptions for Salaried Individuals
    What is Capital Gains Tax?
    Penalties for Not Filing ITR
    Section 80TTA of Income Tax Act
    What is Rent-Free Accommodation?
    What is Advance Tax Due Date?
    Last Date to File ITR
    What is ITR Form 16A?
    Difference between Direct and Indirect Tax
    Section 54EC of Income Tax Act
    What is AIS in Income Tax?
    What is TDS?
    Section 80RRB of Income Tax Act
    What is Excise Duty in India?
    Section 80DD of Income Tax Act
    How Income Tax Department Tracks your Financial Transactions?
    What is Indirect Tax?
    Section 40A(2) of the Income Tax Act
    How to File ITR Online for Salaried Employee
    Section 192A of Income Tax Act
    Section 80D of Income Tax Act
    What is Corporate Tax in India
    How to File Income Tax Returns Online
    How to File ITR for Non Salaried Person?
    Section 24 of Income Tax Act
    Section 54 of Income Tax Act
    Section 194H of Income Tax Act
    New Income Tax Regime
    How to File TDS Return?
    Income Tax Benefits for Senior Citizens
    How your Family Can Help you Save Tax?
    Section 80E of Income Tax Act
    Section 154 of Income Tax Act
    How to Save Income Tax Other than 80C?
    How to Get Income Tax Refund?
    How to File ITR 2 Form?
    Capital Gains Calculation
    Section 80EE of Income Tax Act
    How to get Income Tax Return Copy Online?
    What is ITR 3 Form?
    Section 80GG of Income Tax Act
    Section 80GGC of Income Tax Act
    File Income Tax Return For Capital Gains
    Section 194O of Income Tax Act
    How to Open HUF Bank Account?
    SFT under Section 285BA of Income Tax Act
    What is ITR 1 SAHAJ Form?
    Section 80G of Income Tax Act
    Section 10 of Income Tax Act
    What is ITR 4 in Income Tax?
    How to File Income Tax for Pensioners?
    Depreciation Rates as Per Income Tax Act
    Deductions & Exemptions in New Tax Regime
    Section 194C of Income Tax Act
    What Is Cost Inflation Index?
    Section 194J of Income Tax Act
    Section 80CCF of Income Tax Act
    How to Pay Advance Tax with Challan 280?
    Types of IT Return Forms
    ITR for Business Income, Proprietors & Self-Employed Individuals
    How to Apply For a HUF PAN Card?
    What is Advance Tax Payment?
    Show more
    close
    Check Pending Challan only on Digit App
    Install

    Check Pending Challan only on Digit App

    close

    Latest News

    Currently there are no news to show.

    Read More

    Renew & Download Policy Document, Check Challan, Credit Score, PUC & more

    Anytime, Anywhere. Only on Digit App!

    google-play-icon

    4.8

    Rated App

    60K+ Reviews

    4.8

    Rated App

    60K+ Reviews

    app-store-icon

    4.3

    Rated App

    12K+ Reviews

    4.3

    Rated App

    12K+ Reviews

    Download the App

    Scan to Download

    qr-code

    Author: Team Digit

    Last updated: 20-05-2025

    Digit Insurance logo
    About Contact Career
    Digit Insurance Facebook Digit Insurance Twitter X.com Digit Insurance LinkedIn Digit Insurance Youtube Digit Insurance Instagram

    Resources

    Cancel E-Mandate List of Products CKYC Awareness Workshop Motor Claim Intimation

    Press Mentions Become a Partner Hospital Corporate & Individual Agents

    Important Links

    Board of Directors Public Disclosures Download Documents Investor Relations
    Four Wheeler Guides
    • Maruti Suzuki Car Insurance
    • Honda Car Insurance
    • Kia Car Insurance
    • Hyundai Creta Insurance
    • CNG Car Insurance
    • Compare Car Insurance
    • Add-On Cover for Electric Car Insurance
    • Types of Car Insurance
    • Consumables in Car Insurance
    • Engine Protection Cover
    • Key and Lock Replacement Add-on Cover
    • How to Lower Car Insurance Premiums
    • Comprehensive vs Third-Party Car Insurance
    • How to Claim Car Insurance
    • Car Insurance Discounts
    • How to Transfer Car Insurance
    • How to Drive a Car
    • Safest Cars in India
    • What is RPM in Cars
    • Best Mileage Cars in India
    • Electric Car vs Petrol Car
    • How to Transfer Car Ownership
    • Car Loan EMI Calculator
    Two Wheeler Guides
    • Ola S1 Insurance
    • Ather Energy Bike Insurance
    • Hero Splendor Bike Insurance
    • Hero HF Deluxe Insurance
    • Royal Enfield Classic Insurance
    • Honda Bike Insurance
    • Bike Insurance Renewal
    • Bike Insurance for 3 Years
    • Comprehensive and Third-Party Bike Insurance
    • Cashless Bike Insurance
    • Compare Bike Insurance
    • Add-On Cover in Bike Insurance
    • Return to Invoice Add-on Cover
    • Consumable Cover Add-on
    • Bike Insurance Calculator
    • Transfer Bike Insurance Policy
    • Check Bike Insurance Expiry Date
    • Low Seat Height Bikes
    • Best Scooties in India
    • Best 160cc Bikes in India
    • Best Mileage Bikes in India
    • Top 400 cc Bikes in India
    • Bike Loan EMI Calculator
    Motor Guides
    • Motor Insurance
    • Types of Motor Insurance
    • Comprehensive vs Zero Depreciation Insurance
    • Roadside Assistance Cover
    • PA Cover in Motor Insurance
    • How to Claim Third Party Insurance
    • Indian Motor Vehicle Act 1988
    • High Security Number Plate
    • Transfer Vehicle Registration Certificate
    • New Traffic Violations & Fines in India
    • Car Modification Rules in India
    • Best Helmet Brands
    • Vehicle RC Renewal
    • How to Renew Driving Licence
    • How to Get a PUC Certificate
    • How to Get a Commercial Driving Licence
    • How to Renew the Vehicle Fitness Certificate
    • Traffic Signs in India
    • Types of Number Plates in India
    Health Guides
    • Deductible in Health Insurance
    • Health Insurance for NRI Parents
    • Reimbursement Claim
    • Individual Health Insurance
    • Diabetes Health Insurance
    • Sub Limit in Health Insurance
    • Critical Illness Insurance
    • Compare Health Insurance
    • Health Insurance Add-ons
    • Arogya Sanjeevani Policy
    • Zone Based Health Insurance Plan
    • Loading Charges in Health Insurance
    • Family Floater vs Individual Health Insurance
    • Copay in Health Insurance
    • Sum Insured in Health Insurance
    • Daily Hospital Cash Benefit
    • Pre-Post Hospitalization Expenses in Health Insurance
    • Role of TPA in Health Insurance
    • Cumulative Bonus in Health Insurance
    • Day Care Treatment in Health Insurance
    • Restoration Benefits in Health Insurance
    • No Room Rent Capping in Health Insurance
    • Nominee in Health Insurance
    • Consumables Cover in Health Insurance
    • Government Health Insurance Schemes
    • Ayushman Bharat Yojana
    • Pradhan Mantri Suraksha Bima Yojana
    • What is ABHA Health Card
    • Due Date Calculator
    • 80D Calculator
    Travel Guides
    • Is Travel Insurance Mandatory
    • Travel Insurance for Senior Citizens
    • Travel Insurance for Bali
    • Travel Insurance for Dubai
    • Travel Insurance for UK
    • Travel Insurance for USA
    • Travel Insurance for Thailand
    • What Is Travel Insurance
    • Malaysia Tourist Visa for Indians
    • Bali Visa for Indians
    • Philippines Visa for Indians
    • Dubai Visa for Indians
    • Thailand Visa for Indians
    • Reasons for Visa Rejection
    • Countries in Schengen Area
    • Non-Schengen European Countries
    • Duty Free Allowance in India
    • Easiest Countries to Get Citizenship for Indians
    • Cheapest European Countries to Visit from India
    • Low Budget Foreign Trips from India
    • Best Countries to Study Abroad
    • International Airports in US
    • International Airports in UK
    • Airports in Dubai
    Business Guides
    • Insurance for Businesses
    • Management Liability Insurance
    • Marine Cargo Insurance
    • Money Insurance Policy
    • Plate Glass Insurance
    • Professional Indemnity Insurance
    • Sign Board Insurance
    • Profitable Franchise Businesses in India
    • Low-Investment Franchise Businesses in India
    • Profitable Dealership Business Ideas
    • Food Franchise Business in India
    • Business Ideas in Rural Areas
    • Small Business Ideas in Pune
    • Small Business Ideas in Kolkata
    • Small Business Ideas in Delhi
    • Small Business Ideas in Chennai
    • Small Business Ideas in Hyderabad
    • Cost of Living in Bangalore
    • Cost of Living in Mumbai
    • Cost of Living in Singapore
    • Cost of Living in London
    • Online Invoice Generator
    Property Guides
    • Family Tree Certificate
    • How to Change Name in Land Registry
    • What is Mutation Of Property
    • What is RERA
    • What is Indian Easement Act
    • Peacock Painting Vastu
    • South West Facing House Vastu
    • South Facing Shop Vastu
    • West-Facing Shop Vastu
    • Lotus Flower Painting for Home Vastu
    • Rising Sun Painting Vastu
    • Wall Paintings for House Vastu
    • Tenant Police Verification in Delhi
    • Tenant Police Verification in Bangalore
    • Property Mutation in Delhi
    • Mutation of Land in West Bengal
    • What is Domicile Certificate
    • Home Loan EMI Calculator
    • Rent Receipt Generator
    Finance Guides
    • How to Check APY Balance
    • How to Withdraw PF Online
    • How to Check Sukanya Samriddhi Account Balance
    • How to Check Credit Score
    • How to Open PPF Account
    • Kisan Vikas Patra Scheme
    • How to Earn Money Online
    • How to Improve Credit Score
    • New Tax Regime Exemption List
    • Income Tax Slab for Women
    • How to File Income Tax Return Online for Salaried Employee
    • Income Tax Slab for Senior Citizens
    • How to Link Aadhaar Card to PAN Card
    • Aadhar Card Download by Name and Date of Birth
    • Documents Required for Aadhar Card
    • Documents Required for PAN Card
    • How to Link Aadhar with Digilocker
    • What is Tatkal Passport
    • Types of Passport in India
    • Government Holiday List
    • Bank Holiday List
    • Women Empowerment Schemes in India
    • SSY Calculator
    Downloads Do Not Disturb (DND) Public Disclosures Investor Relations Stewardship Policy IRDAI Privacy Policy

    CIN: L66010PN2016PLC167410, IRDAI Reg. No. 158.

    Go Digit General Insurance Limited | Corporate Office Address: Atlantis, 95, 4th B Cross Road, Koramangala Industrial Layout, 5th Block, Bengaluru 560095 | Registered Office Address: 1 to 6 floors, Ananta One (AR One), Pride Hotel Lane, Narveer Tanaji Wadi, Shivaji Nagar, Pune-411005, Maharashtra | Trade logo of Go Digit General Insurance Ltd. displayed above belongs to Go Digit lnfoworks Services Private Limited and is provided and used by Go Digit General Insurance Ltd. under license.

    qr-alt
    ×

    Explore exclusive features, file claims & access policy on Digit App!

    You can also scan this QR code to download the App.

    mobile-insurance
    +91
    all-pages