Hello Sir, I am currently earning a CTC of 7.20 Lacs PA, and I have opted for the new tax regime, I am told under this new regime for a CTC of 7.20 Lacs PA the tax would be ZERO, I wanted to know if this is correct and also i wanted to sell some mutual funds wherein the capital gains will be Rs 95000-98000, since this too is exempt as per the IT act, will I have to pay tax once this amount of Rs 95-98k is added to the total earnings, please clarify, Thanks in advance.
Ans: Yes there is no tax with your CTC amount
Any gains on equity MF till 1L in one particular FY is tax free, so no tax liability, but none the less you should file your ITR on time