The Times of India

New vs Old Tax Regime after Budget 2026: Which income tax regime should you choose for FY 2026-27? Tax rates, slabs explained

Union Budget 2026 maintains the existing income tax framework, with the new regime offering tax-free income up to Rs 12 lakh for individuals. While the old regime continues with its deductions, the new system has been progressively liberalized since 2020, making it increasingly attractive for middle-income taxpayers.