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Income Tax Calculator New Versus Old Regime: In this table, a gross salary level of Rs 15 lakh has been taken. Again, assuming that only a standard deduction of Rs 50,000 availed, the salaried ...
Income Tax Calculator: There are a range of income tax exemptions which are available only in the old tax regime such as those given under 80C, 80D, CCD(1B) and 80D and 80G.
Although the new tax regime does not offer most exemptions and deductions given under section 80C, 80 D, 80 G and 80CCD (1), among others, what it offers instead is the lower slab rates. For ...
Income tax calculator FY 2025-26. The new tax regime is better than the old tax regime for income up to Rs 12 lakh (Rs 12.75 lakh for salaried people), ...
Some individuals opt for the new regime without a comparative analysis of the tax liability under the two regimes.
While you decide on what regime to choose, remember that there is no tax on income upto Rs 7lakh and less under the new regime. In addition, now a standard deduction of Rs 50,000 is also available ...
Representational image New Tax Regime Calculator 2023-24 (Online): Finance ... 2023-24), you will have to file Income Tax Return as per the old tax slabs. As per the latest tax slabs under the ...
In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up to Rs 4 lakh from basic tax. The old tax regime was kept unchanged.
Old Vs New Tax Regime: For individuals earning Rs 15 lakh annually, opting for the old tax regime can result in tax savings of up to Rs 48,100, provided they maximise deductions like HRA, 80C, 80D ...
The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...
While there are limited exemptions available under the new tax regime, taxpayers with a gross income exceeding Rs 24.75 lakhs will find the new tax regime beneficial if their total deductions and ...
There are a range of income tax exemptions which are available only in the old tax regime and not in the new tax regime. These include those given under 80C, 80D, CCD(1B) and 80D and 80G.