Webb28 feb. 2024 · Effectively, because of rebates under section 87A, those earning up to Rs 5 lakh do not have to pay any tax either in the old regime or in the new regime. Bajaj said … Webb1 feb. 2024 · The rebate limit has now been raised to Rs 7 lakh in the new tax regime. Jain says, “While the rebate limit under the old tax regime remains unchanged at Rs 5 lakh, individuals are still eligible to claim deductions for tax-saving investments of up to Rs 1.5 lakh under Section 80C and Rs 50,000 towards new pension scheme (NPS).
Old vs New Tax Regime: How will Budget 2024 benefit taxpayers …
Webb9 sep. 2024 · Individuals having taxable income of up to Rs.5 lakh will be eligible for tax rebate under section 87A up to Rs 12,500, thereby making zero tax payable in the new tax regime. # Conveyance Allowance You can claim income tax exemption for conveyance, travel, and other allowances given by your employers under the new tax regime as well. Webb1 feb. 2024 · Budget 2024 introduced several changes to the 'new income tax slab'. As part of this, the tax rebate has been extended on income up to Rs 7 lakh as per Section 87A, … helix pokemon fossil
Old Vs New Tax Regime: Which One To Pick? - indiatimes.com
Webb2 feb. 2024 · Those choosing the Old regime continue to get exemptions on investments, after which their final taxable income is calculated. A five-slab structure will apply now under the New regime, also... Webb21 feb. 2024 · Both the regimes differ in tax rebate under section 87A, with the old regime having Rs 5 lakhs as the limit and the new regime having Rs 7 lakhs. The old regime has … Webb8 mars 2024 · If your taxes under the old regime were Rs 65,000 assuming no deductions, in the new regime, your taxes on the same income reduce to Rs 39,000. But in the old … helix skinny jeans