Income tax disclosures in new fiscal year

Since certain benefits are not applicable under the new tax regime, compliance is simpler compared to the old regime

- UMA KANNAN @Bengaluru

COME April 1, 2025, changes in the income tax slabs will come into effect under the new tax regime. While it is up to individual taxpayers to choose between the old and new tax regimes, the government has introduced various incentives, including nil tax liability for those who are earning up to ₹12 lakh, in order to encourage the adoption of the new tax regime.

Disclosures under new, old regimes