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Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Feb 10, 2023

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 Ashwani on Feb 01, 2023Hindi

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Again will the tax slabs under old regime continue to be same? What will be standard deduction now.?

Ans: Tax slabs under the old regime continue to be the same. The standard deduction is Rs 50,000

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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Asked by Anonymous - Feb 01, 2023Hindi

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Tax slab is for new regime or old and if it is for new then what will happen to 80c and other investment benefits

Ans: Different Tax slabs have been listed for both new and old tax regimes however the changes to the slab rates have been done only for the new tax regime rates.

Accordingly, in case you are opting for the old tax regime then you could continue to avail of the deductions under section 80C and other benefits as you were claiming earlier.

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Question by Sarvesh - Feb 01, 2023Hindi

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Is there any change in the old tax regime tax slabs in this budget? What are the exact tax slabs if I would like to opt for the old tax regime and would like to avail benefit of Standard Deduction, Section 80 C, NPS(80CCD1B and 80ccd2) and Section 80 D ?

Ans: No change in old tax regime. Slab rates are as follows:

Up to Rs. 2,50,000 - 0%
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
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Question by Tanmoy - Feb 03, 2023Hindi

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Is standard deduction introduced under new tax regime applicable to salaried and pensioners irrespective of their income or only if income is greater than 15.5 lacs? Tanmoy Bhattacharyya

Ans: Standard deduction is available person having income from salary (including pension) irrespective of quantum of salary

Mihir Tanna |1057 Answers |Ask -Follow

Tax Expert - Answered on Jul 24, 2024

Asked by Anonymous - Jul 23, 2024Hindi

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Sir Iam having a taxable income of 18 lakhs last year and paid 360000 in new tax regime. As per the above what could be my tax as per new regime and new slabs Thanks

Ans: Assuming 18 lacs doesn't include any special rate income, tax liability for FY 24 25 based on proposed amendment (after standard deduction of 50000) will be 215800

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Tax Expert - Answered on Feb 15, 2025

Question by Abhiroop - Feb 01, 2025Hindi

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if my income is 30 lakhs, then the slabs for tax calculation under new regime is it like below: Rs. 1 - Rs. 4,00,000 - 0% Rs. 4,00,001 - Rs. 8,00,000 - 5% - 0 (DUE TO TIL 12 LAKH NO TAX REBATE) Rs. 8,00,001 - Rs. 12,00,000 - 10% - 0 (DUE TO TIL 12 LAKH NO TAX REBATE) Rs. 12,00,001 - Rs. 16,00,000 (with standard deduction of 75000) - 15%- 48750 Rs. 16,00,001 - Rs. 20,00,000 - 20%- 80000 Rs. 20,00,001 - Rs. 24,00,000 - 25%- 100000 Rs. 24,00,001 - Rs. 30,00,00 - 30%- 120000 IS MY UNDERSTANDING CORRECT?

Ans: No, if your taxable income is more than 12 lacs, rebate is not available

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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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