Understanding the Difference Between the New and Old Tax Regime in Bangalore

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When filing your Income Tax Return in Bangalore, choosing between the new and old tax regime can significantly impact your tax liability. The old regime allows various deductions like HRA, 80C, and home loan interest, making it ideal for those with substantial exemptions. Meanwhile, the new regime offers lower tax rates but no deductions. For salaried professionals with minimal investments or those staying in company-provided accommodations, the new regime may be more beneficial. Evaluate your income structure before choosing.


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