In the new income tax regime, the rebate eligibility threshold is set at rs 7,00,000, allowing taxpayers to claim a rebate. We have updated our tool in line with the income tax.
1) income tax exemption limit increased from rs 2.5 lakh to rs 3 lakh. The new income tax regime offers lower income tax rates with no option of availing certain tax exemptions and deductions.
Capital Gains Tax Brackets For 2023 And 2024 (2023), Applicable Only For Individuals Resident In India With Total Income Upto Rs.
The general slab rates applicable in the case of an individual or huf are 5%, 20%, and 30%.
This Calculator Will Work For Both Old And New.
2) tax rebate under section 87a increased from rs 5 lakh to rs 7 lakh.
Images References :
19C For Each $1 Over $18,200:
This calculator will work for both old and new.
What Changes Have Been Made In The New Tax Regime?
Currently, new tax regime has basic exemption limit of rs 3 lakh.
