Can Taxpayers claim an increased Rebate in Income Tax Old Regime? Does Government plan to scrap Old Regime?

The Union Budget 2025 raised questions about whether taxpayers can claim an increased rebate under the old income tax regime, and if the government plans to scrap the old regime altogether. The government clarified that there are no plans to completely abolish the old tax regime, which continues to offer deductions and exemptions. However, it acknowledged that the existing system may need adjustments to better cater to taxpayer needs. The budget proposed certain changes that offer more clarity on available rebates and exemptions, particularly for middle-class taxpayers. This indicates that the government is focused on keeping the old tax system relevant while balancing it with the newer, simplified tax framework.