Witryna8 mar 2024 · As per the new regime, new income tax rates and slabs will be applicable for those who forego tax exemptions and deductions. The tax breaks that will not be available under the new regime include Section 80C deductions (Investments in PF, NPS, Life insurance premium), Section 80D (medical insurance premium), HRA and … Witryna11 kwi 2024 · The exemptions available under the old regime include House Rent Allowance (HRA) and Leave Travel Allowance (LTA). When it comes to deductions, Section 80C is the most popular option that allows ...
Leave Travel Allowance: Can LTA help you save tax under new tax regime ...
Witryna23 lut 2024 · The Government of India introduced a new optional tax rate regime s. Select Region. United States. United Kingdom. Germany. India. ... Deduction under … Witryna27 sty 2024 · The tax benefits one forgoes by opting for the new tax regime include deductions under: section 80C for a maximum of Rs 1.5 lakh claimed by investing in specified financial products, section 80D for health insurance premium paid, 80TTA for deduction on savings account interest earned from a bank or post office etc. strong flavour crossword
Old Tax Regime vs New Tax Regime 5paisa
Witryna18 lut 2024 · If an individual opts for the old tax regime in the current FY 2024-23 (ending on March 31, 2024), then he or she can continue to claim tax exemptions and deductions. The old tax regime allows an individual to save income tax via various deductions and tax exemptions such as sections 80C, 80D, 80CCD(1b), 80TTA, … Witryna2 sty 2024 · The new tax regime is different from the old tax regime in three aspects. In the recent Budget, the finance minister has increased the number of slab rates to six. … Witryna9 gru 2024 · Here are a few tax saving options other than Section 80C that can help you to bring down the tax liability for FY 2024-22. ... In the new tax regime, taxpayers will have to forgo most of the ... strong flavor crossword