# @financewizardcl on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DFiOII3T5WA
- **Gondola URL:** https://gondola.cc/posts/59781459-financewizardcl-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/716e33e799.jpg
- **Posted:** 2025-02-01T15:11:20.000+00:00
- **Account Owner:** Chandralekha Mittemari Ravikumar (@financewizardcl) — https://gondola.cc/financewizardcl

## Caption

🫡Confusion settled! 

Finally releasing the video on the new Income Tax rules of the Union budget 2025.

Answering some common FAQs!

✅What happened to OLD TAX REGIME?

As per latest data, 75% of income tax filers have already chosen the New Tax Regime 2024z

And now! The New Tax Regime 2025 almost kicked the old regime out because, now to pay Zero tax the deductions required raises to 5L+!

✅ Will Government abolish old tax regime?

We don’t know that yet. However, the current rules will make 95%+ people already migrate to this regime. So high chances that Government might disregard this next year.

✅ What’s with the new TAX BILL?
Looks like in an effort to completely simplify Income Act, the government will launch the New Bill which will progress into an act. This will make understanding taxes easy for common man!

✅ Will it be applicable for Salaried & business?
All income except capital gains will be considered for calculating rebate.

✅ What about FD interest tax?
For senior citizens, deposits up to 12.5L rupees assuming 8% pa interest will be tax free! Basically the deduction will now be 1L rupees. 

#tax #unionbudget #incometax #finance #personalfinance #

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- **Likes:** 80,456
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## Tags

personalfinance, incometax, finance, unionbudget, tax

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