ITR filing 2025, March 2 -- Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new. And you can opt for the regime which gives lower tax outgo.

Introduced in 2020, the new tax regime was made the default regime for taxpayers as per Finance Act, 2023 which expanded the scope of this regime to include AOP, BOI, and AJP.

If you opt for the new tax regime as per Section 115BAC, you are supposed to forgo exemptions and deductions while computing total income.

If you are availing of exemptions or deductions under the normal tax regime, you may end up paying more tax under the new tax regime if the amount of exemptions and deductions is substantial.

Therefore, if the amou...