WebLet us take an example to see the difference between the old and new tax regimes. Nehal works in Mumbai and gets a basic monthly salary of ₹1 lakh. Her employer offers an HRA of ₹50,000, a special monthly allowance of ₹20,000 per month, and a yearly LTA of ₹30,000. She stays in a rented house and pays a rent of ₹40,000 per month. WebApr 12, 2024 · New and Old tax Regime slab: Many changes have been announced in the new tax regime to make it attractive for the individuals in the Budget 2024.The income tax slabs under the new tax regime has been reduced to five in FY 2024-24 from six. The basic exemption limit has been hiked to Rs.3 lakh from Rs.2.5 earlier under the new income tax …
New vs old income tax regime: Time to decide is now - watch …
WebApr 12, 2024 · An individual opting for the new tax regime for FY 2024-24 will be eligible to claim a standard deduction of Rs 50,000. Family pensioners opting for the new tax regime will be eligible to claim standard deduction of Rs … WebFeb 1, 2024 · In the old tax regime, an individual with a salary income of Rs.7.5 lakh claiming maximum exemptions and deductions of Rs.2.5 lakh will be able to bring down the … goldberg christmas movie
Old Tax Regime Vs New Tax Regime - Which is Better For You?
WebIncome Tax Video by our Guest Tax Expert - CA Yogesh Katariya, Partner - SPAY & Co. in Pune.New Income Tax Regime or Old Income Tax Regime - Which to follow?... WebThe introduction of two regimes of computing tax liability for individuals has left the assessees in awe, more popularly known as the Old Tax Regime and the New Tax Regime. The new regime is all set to come into effect from the assessment year 2024-22 onwards. Let’s have a look at what these 2 tax regimes are: NEW REGIME- Lower Tax Rates, No ... WebApr 13, 2024 · Example of How Income Tax is Calculated under Old Regime for 3 individuals (A, B, and C) Income Tax Slab Between 60-80 years (Senior Citizen) Given below is an Example of How Income Tax is Calculated for 3 individuals (A, B, C) Income Tax Slabs for Individual above 80 years (Super Senior Citizen) goldberg clinical electrocardiography