If I earn Rs 16 lakh p.a., invest 1.5 lakh in 80 C, medical expenses 60k, donations 30k (80G), which tax regime is preferable and corresponding benefit
Ans: Person getting salary of Rs.16 lakh, claiming deduction of 80C of 1.5 lakh, Mediclaim 25k (upper limit for non-senior citizen, Donations 15K (50% deduction usually allowed), standard deduction of 50k is advised to opt for new tax regime, as tax liability is expected to be lower with new slab rate proposed for FY 23-24 under new tax regime