New Delhi, Feb. 4 -- Thanks to Budget 2025, new tax regime has become even more lucrative now. With no income tax for those who earn up to Rs.12 lakh a year, taxpayers have one more reason to abandon choose new regime over old tax regime.

This means more and more taxpayers will now choose the new tax regime, particularly those falling in the lower income bracket. Chairman of CBDT Ravi Agrawal even claimed that 90 percent of taxpayers may switch to the new tax regime from 75 percent currently.

This means taxpayers will lose out on the benefits of old tax regime which include deductions and exemptions offered for investing in tax-saving instruments such as PPF (public provident fund), National Savings Certificate (NSC), Sukanya Samridhi Y...