Income Tax, April 24 -- The financial year 2024-25 has come to an end and the tax filing season has kicked off. As the last date to file Income Tax Returns (ITR) is July 31, taxpayers now have nearly three months to file their returns.

Meanwhile, taxpayers are required to choose between the two available tax regimes. Some are drawn to the lower tax slabs offered by the new tax regime, while others prefer the old tax regime for the deductions and exemptions it allows.

Here are some situations where opting for the old tax regime is more beneficial than choosing the new tax regime.

I. When you have investments made in tax-free investments: The old tax regime allows taxpayers to claim income tax deductions on a wide range of investments an...