Old vs new tax regime: Which saves more tax if you earn Rs.20 lakh, Rs.25 lakh or Rs.30 lakh?
New Delhi, June 7 -- With the new tax regime offering lower rates but fewer deductions, many salaried taxpayers are wondering whether the old regime still makes sense. Here's a comparison across income levels of Rs.20 lakh, Rs.25 lakh and Rs.30 lakh.
Rs.2.5 lakh - Nil
Rs.2.5 lakh - to Rs.5 lakh - 5% above Rs.2.5 lakh
Rs.5 lakh - to Rs.10 lakh - Rs.12,500 + 20% above Rs.5 lakh
Rs.10 lakh or above: Rs.1,12,500 + 30% above Rs.10,00,000
Up to Rs.4 lakh - Nil
Rs.4 lakh to Rs.8 lakh - 5% above Rs.4 lakh
Rs.8 lakh to Rs.12 lakh - Rs.20,000 + 10% above Rs.8,00,000
Rs.12 to 16 lakh - Rs.60,000 + 15% above Rs.12,00,000
Rs.16 to Rs.20 lakh - Rs.1,20,000 + 20% above Rs.16,00,000
Rs.20 to Rs.24 lakh - Rs.2,00,000 + 25% above Rs.20,00,000
Ab...
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