New Delhi, Sept. 10 -- At the time of filing of income tax return (ITR), it is important to choose the right tax regime. And the 'right' is the one which leads to lower tax liability. Meanwhile, the I-T portal data as of 9 September shows that 5.13 crore taxpayers have already filed their income tax return, out of which 3.48 crore have already been processed.

Although it could be argued that it is better to continue with the same tax regime that you followed last year, one could change it as well if it leads to sometaxsavings.

Let us understand more about this here.

I.Old Vs New: Theold tax regime leads to greater tax savings on account of deductions for investments, but levies higher tax rates. On the other hand, thenew tax regime doe...