New Delhi, Oct. 1 -- Over the past few years, two big shifts have changed how Indians plan their taxes: the introduction of the new tax regime and the changes in capital gains taxation. At the Mint Money Festival, chartered accountant Prakash Hegde of Acer Tax & Corporate Services broke down what these changes mean for small taxpayers and why simplification remains elusive.

For most salaried taxpayers, the new regime is now the straightforward choice, according to Hegde.

"Unless your exemptions and deductions exceed roughly Rs.7.75 lakh annually, the new regime makes far more sense," he explained.

He also highlighted additional perks of a higher standard deduction of Rs.75,000 (versus Rs.50,000 in the old regime), a more generous Natio...