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Should I Choose the Old or New Tax Regime with a 40 Lakh Salary?

Anil Rego | Answer |Ask -Follow

Financial Planner - Answered on Jul 26, 2024

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by MOHAN on Jul 26, 2024Hindi

Money

40 lacs income p.a. which regime is better

Ans: Hi,
For the income mentioned by you, assuming that one takes all the deductions available under old tax regime, the old tax regime allows you to save some tax but not by a huge margin. Also, please note that going forward the Government might make more changes in the new tax regime to benefit larger interests. I hope this answers your question
Best Regards,
Anil Rego,
Founder & CEO,
Right Horizons

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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