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Mihir Tanna  |819 Answers  |Ask -

Tax Expert - Answered on Feb 15, 2023

Mihir Tanna has more than 10 years of experience in direct taxation, including filing income tax returns.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Ani Question by Ani on Feb 01, 2023Hindi
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For an annual income of 30 lakhs and with 80C deduction of 1.5 lakhs PPF and nothing much on other deductions. Which regime would be better?

Ans: For person earning income of 30 lakhs and deduction of PPF of 1.5 lacs, tax liability under old regime will be Rs.667500 and under new tax regime it will be Rs.600000 as per Budget proposal for FY 23-24. So new tax regime more beneficial as all tax benefits are not taken.
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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