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Tax Expert - Answered on Feb 15, 2023

Asked by Anonymous - Feb 01, 2023Translate
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Is new Tax benifit helpfull for salaried employees with packages between 27-30 Lacs per annum

Ans: New tax regime is beneficial if all the tax benefits are not taken. For e.g. if income is 30 lacs and deductions u/s 80C is 150000 taken, tax liability will be Rs.600000 under new tax regime and under old it will be 667500.

However, if person take PPF benefit of 1.5 lac, 25k in mediclaim, housing loan interest deduction 2 lacs, 50k standard deduction from salary; tax liability under old regime will reduce to 585000.
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