if my income is around 16 lakhs and i was taking exemption of 80c and 25000 mediclaim. which tax regimn should i now opt for
Ans: If taxable income of person is Rs.16,00,000 after claiming deduction of Rs.1,50,000 under 80C and Rs.25000 for mediclaim; tax liability will be Rs.240000 plus cess under old regime. However, under new regime after proposal of Budget 2023 as per new slab rate tax liability will be Rs.180000 so new regime is more beneficial.