The question of whether the new or old tax regime is better depends on individual circumstances and financial goals. Both the new and old tax regimes have their advantages and disadvantages, and it's essential to consider various factors before determining which one is more beneficial for you. Here are some points to consider:

New Tax Regime:

• Lower tax rates: The new tax regime introduced lower tax rates compared to the old regime, which can result in lower tax liability for some individuals.
• Simplified structure: The new regime offers a simplified tax structure with reduced tax slabs, making it easier to calculate taxes.
• No deductions and exemptions: Under the new regime, most deductions and exemptions available in the old regime are not applicable. This may result in a higher taxable income for some individuals.

Old Tax Regime:

• Deductions and exemptions: The old tax regime allows for various deductions and exemptions such as those for house rent, medical expenses, education loans, etc. These deductions can significantly reduce taxable income.
• Investment benefits: The old regime provides tax benefits on specific investments such as Public Provident Fund (PPF), National Savings Certificate (NSC), and tax-saving fixed deposits. These investments can help individuals save taxes and build wealth.
• Continuity and familiarity: For individuals who are accustomed to the old tax regime and have made financial decisions based on its provisions, sticking to the old regime may be preferable.

Ultimately, the choice between the new and old tax regimes depends on your specific financial situation, income level, and investment preferences. It is advisable to consult with a tax professional or financial advisor who can assess your circumstances and provide personalized guidance on which regime is more advantageous for you.