Tax payment self DIY (Do it yourself) for the financial year 2024-2025 in assesment year 2025-2026. Most of the tax is auto computed in the income tax portal itself and it will be quite easy to submit details. all you have to do is take a clear data of your earning, investments and then put everything in to your excel sheet, to understand what you are going to show about your earnings and how much tax you are liable to pay. Key points to remember is that upto income less than or equal to 7 lakhs per annum, there is no tax payable. Once the 7 lakhs amount is crossed in the new tax regime, then all tax slabs apply from begining. In the old tax regime there is no tax up to 250000 and 300000 for senior citizens.Lets also take a look at the both the new and old tax regime and their benefits. standard deduction 50000 in old tax regime and 75000 in new tax regime with examples

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