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Mihir Tanna  |706 Answers  |Ask -

Tax Expert - Answered on Nov 02, 2023

Asked by Anonymous - Oct 11, 2023Translate
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Hi, My annual salary is around 22,00,000. I've a home loan for which I pay around 17k per month as EMI. I also invest regularly in PPF and NPS. Should I go for new tax regime or stick to old one.

Ans: If person is taking maximum benefits of deduction/exemption, old tax regime is likely to be beneficial for FY 23-24. In the absence of exact amount of interest and principal repayment of housing loan as well as PPF amount, it is difficult to comment.

You can check working under both regime https://incometaxindia.gov.in/Pages/tools/tax-calculator.aspx
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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