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Anil Rego |340 Answers |Ask -Follow

Financial Planner - Answered on Aug 25, 2021

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 Dibyendu on Aug 25, 2021Hindi

Money

I am a 50-year-old teacher. I have an investment Rs 50,000 in NPS per FY and Rs 1,50,000 (80 C) along with standard deduction of Rs 50,000 and PTax. I guess my tax will be same in the regular tax regime and the new tax regime.

Can you kindly confirm my assumption?

Ans: We would need your income details to exactly calculate the same. But, with the given information, you will have almost similar tax implication on both tax regimes.

There are a number of tax calculators which you can use and accordingly decide which suits you better.

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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What happens to 80C and NPS benefit in the new tax regime? New tax regime : No income tax on income of 7 Lakhs. Old tax regime : No tax on income of 5 Lakhs + 1.5 Lakhs under 80C + 50K on NPS = 7 Lakhs

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In case my annual income is 30 lakh and I have investment -1.5 lakh for 80c , what would be difference between old and new tax regime … any benefit or not ??

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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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