Starting a partnership firm can be an exciting and rewarding venture. It allows two or more individuals to come together, combine resources, and share profits while retaining their distinct identities. However, registering a partnership firm is a crucial step that formalizes the business relationship and provides legal recognition.

When it comes to filing income tax in India, taxpayers are often faced with the decision of choosing between the new tax regime and the existing old tax regime. Each has its advantages and disadvantages, and understanding them can help individuals make informed decisions regarding their financial planning.
This article aims to provide a comprehensive comparison of both regimes, helping you choose the best option for your circumstances.