Income tax Articles

Split-scene image of an old accounting ledger with handwritten HRA and 80C entries on the left, and a modern tablet showing zero tax on a clean digital form on the right — representing the choice between old and new income tax regimes in India

India Finance

New Tax Regime vs Old Tax Regime India FY 2026-27: Who Wins at Every Salary Level?

2026-03-26 · 10 min read

The new tax regime has been the default for salaried employees since FY 2023-24, and Budget 2025 made it dramatically more attractive — zero tax on gross salary up to ₹12.75 lakh (₹12 lakh taxable income with 87A rebate, plus ₹75,000 standard deduction). At ₹10 lakh salary, the new regime produces zero tax liability versus ₹59,800 under the old regime even with full 80C, 80D, and NPS deductions. But the old regime still wins for those with high HRA exemptions and home loan interest above ₹15 lakh income.

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ITR Filing Deadlines 2026: Budget 2026 Changed the Rules — New Dates for Salaried, Business, and Professionals

Budget 2026's Finance Bill introduced staggered ITR filing deadlines for the first time. Salaried employees and pensioners retain the July 31, 2026 deadline. Business owners and professionals requiring audit now have until August 31, 2026 — a one-month extension that is a material change from the previous uniform July 31 rule. Revised returns are allowed until March 31. The new default tax regime eliminates tax up to ₹12 lakh, and the standard deduction rises to ₹75,000. We cover every deadline, every fee, and every slab change.