The new tax regime is the default unless the old regime is. The above calculator is only to enable public to have a quick and.
The choice between the new and old tax regimes depends on your eligible deductions and exemptions. Lower tax rates but minimal exemptions and deductions.
By Inserting The Relevant Financial Information Into An Old Vs New Tax Regime Calculator Online, You Can Get An Approximate Idea Of Your Taxes And Eligibility For Tax Exemptions.
Municipal taxes paid during the year.
5% On Income Which Exceeds ₹ 3 Lakh.
While the old tax regime allows for exemptions and deductions like section 80c, house rent allowance, leave travel allowance etc., the new tax regime offers.
Images References :
Anyone Who Has An Income That Crosses A Specific Threshold Is Required To Pay Taxes.
Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.
The Indian Income Tax System Has Two Ways (Known As Tax Regimes) To Calculate Taxes:
