WebApr 10, 2024 · At what level does the Old TR match New TR: If the eligible deductions are at Rs. 2,50,000 and above, then Old Tax Regime equals New Tax Regime 2.0 with nil tax. … WebFeb 1, 2024 · Earlier in January, Sitharaman had responded to a claim in the book Reform Nation, authored by Observer Research Foundation Vice President Gautam Chikermane, that the new and voluntary income tax regime had removed the simplicity of the old one, which had just three tax slabs of 10 per cent, 20 per cent, and 30 per cent. “If indeed there were …
Income Tax Filing: Salaried individuals should not delay selecting …
WebApr 7, 2024 · The Finance Minister, Nirmala Sitharaman presented the Budget 2024 and introduced a new tax regime u/s 115BAC of Income Tax Act, 1961. The new tax regime is available only to individuals and HUF. The new regime comes with reduced income tax slab rates and the removal of rebates, exemptions, and deductions. WebAVAILABLE UNDER NEW AND OLD TAX REGIME S. No Particulars Old Tax Regime New Tax Regime 1 Income level for rebate eligibility Rs. 5 Lakhs Rs. 7 Lakhs 2 Standard Deduction Rs. 50,000/- Rs. 50,000/- 3 Effective Tax-Free Salary Income Rs. 5.50 Lakhs Rs. 7.50 Lakhs 4 Rebate U/s. 87A (Max Amount) Rs. 12,500/- Rs. 25,000/- Allowable ... bandara juanda surabaya
Budget 2024 Standard Deduction Introduced In New Tax Regime …
Web2 days ago · With the beginning of the financial year 2024-24, it is important for employees to choose between the old- or new tax regime by this month itself, according to Abhishek … WebFeb 9, 2024 · In two ways, the new tax scheme differs from the previous one:-. 1. The number of tax slabs has expanded under the new system, with reduced rates in the range … WebFeb 2, 2024 · Similarly, family pensioners can claim deduction of Rs.15,000 under the new income tax regime. Hence, it is important to know the tax … bandara juanda terminal 3