Under old regime, super senior citizen get exemption up to 5 lacs. What will be exempted under new regime 3 or 5 lacs
Ans: For person earning income upto Rs.7 lacs, tax rebate is available upto 25,000 under new tax regime. Thus, if you calculate tax liability as per slab rate, tax liability before rebate will be 25000 and after rebate, tax outflow will be NIL