Hi Sir, I have CTC of 24L. 3.3L paid home loan interest, 44000 interest home loan, kids fee paid around 1.3 L. 75k parental maintennince for FORM NO. 10-IA [See sub-rule (2) of rule 11A]. Parental health insurance (sr. citiezen) and self health insurance. Shall I opt for old or new tax regime. Thanks.
Ans: Hi Abdul,
I am assuming that you meant to say Rs. 44,000 as home loan principal and the house is used for self occupation. Also,, as you have not stated the health insurance premium amount, i have not considered that as well. My response is based on the above assumption.
It would be better to opt for the old tax regime as that generates about Rs. 15,000 more tax benefit