New Regime Vs Old Regime 2024-24. Budget 2023 has announced that the new income tax regime will be the default tax regime from the. If you wish to opt for the new tax regime you have to forgo various tax deductions and exemptions otherwise available under the old regime.
The old regime consists of four tax slabs, ranging from 5% to 30%, with additional surcharges. Budget 2023 has announced that the new income tax regime will be the default tax regime from the.
To Make The New Income Tax Regime Attractive, Budget 2023 Has Made Significant Changes To It.
If you still haven't had a chance to understand the new and the old tax regime, now is a good time to see which one would work best for you.
The Rebate Under Section 87A.
Here are the key differences between the two:
Income Tax Rates For Fy.
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Understanding The Difference Between Old And New Tax Regime Is Important.
Hereโs a look at key amendments.
The New Tax Regime Offers Tax Rebate Up To Rs 25,000 Which Makes Zero Tax Payable For Incomes.
The new tax regime offers six different new income tax slabs for individuals and hufs when compared to three in the.
If You Wish To Opt For The New Tax Regime You Have To Forgo Various Tax Deductions And Exemptions Otherwise Available Under The Old Regime.