ITR filing 2025, Feb. 24 -- The decision between the old and new tax regimes hinges on thoroughly understanding the available benefits. While the new tax regime is often characterised by its simplified slabs and lower rates, it doesn't entirely eliminate opportunities for tax planning. By examining the remaining provisions, such as the standard deduction, NPS contributions, and exemptions for specific groups, taxpayers can make an informed choice that optimizes their financial situation.

"Despite fewer deductions, the new tax regime still offers savings," says Abhinav R. Jain (AdCounty Media). "Standard deduction, employer NPS contributions, and specific exemptions for seniors and businesses remain."

Standard Deduction refers to a fixed...