WebFeb 1, 2024 · Also read: Tax saving in new tax regime 2024-24 vs old tax regime post Budget announcements Also read: Revised income tax slabs, rates for new tax regime announced in Budget 2024 Do note that as the salary levels decrease, the deduction and exemption amount will also decrease, while calculating the break-even. WebFeb 8, 2024 · Tax under Old vs New regime . Here are a few calculations to which will help …

Income Tax: How to choose between the old and new tax regime …

WebMany taxpayers are confused between the old and new tax regimes. The new tax regime … Web2 days ago · Understanding the old and new tax regimes. The tax liability under the old tax regime was based on income slabs with a tax rate of 5% for income between 2.5 lakhs to 5 lakhs, and 15% for income between 5 lakhs to 7 lakhs. This was further reduced by a rebate available under section 87A, but only if the income was less than 5 lakhs. jesse rafidi

Excel Tax Calculator for New Personal Tax Regime AY 2024-25

WebThis service also provides a calculation of tax under the old or new tax regime with a … WebFeb 21, 2024 · The Income Tax Department has released a 'tax calculator' to assist taxpayers in determining which income tax regime will be better for them in the fiscal year 2024-24 - the old income tax regime or the new income tax regime. jesse rae bbq