WebDec 20, 2024 · If an individual has a salary of Rs 8 lakh per annum, and he/she has opted for a new income tax slab regime, then an income tax will be Rs 46,800. It is calculated without any exemptions and deductions. An individual can save Rs 28,600 more as compared to an old tax regime. The table below will make the calculations more clear to you. WebRebate u/s 87-A Resident Individual whose Total Income is not more than ₹ 5,00,000 is also eligible for a Rebate of up to 100% of income tax or ₹ 12,500, whichever is less. This …
Which ITR form should I file? - Income Tax - TaxQ&A by Quicko
WebApr 10, 2024 · To further illustrate the point, let us assume that one with income of Rs.15.5 Lakhs, has a combined deductions of Rs.5.25 Lakhs (across limits of 80C, 80D with senior citizen parents, home loan interest repayment, NPS & standard deduction), then the tax outgo under the Old TR is Rs. 1,24,800, which is Rs. 31,200 less than Rs.1,56,000 under … Web4 hours ago · Q1. Which Option is better for salaried Person for FY 23-24. Ans: Any of the Tax regime is better for salaried person till Annual salary (CTC) of Rs 10 lakhs so can opt any new tax regime both are better. However, after Rs 10 Lakh Annual Salary (CTC) Old tax regime is only better because of allowance and deduction available under this regime. how much are extra toppings at pizza hut
$85,000 income tax calculator 2024 - Michigan - salary after tax
Web4 hours ago · Q1. Which Option is better for salaried Person for FY 23-24. Ans: Any of the Tax regime is better for salaried person till Annual salary (CTC) of Rs 10 lakhs so can opt … WebDec 20, 2024 · If an individual has a salary of Rs 8 lakh per annum, and he/she has opted for a new income tax slab regime, then an income tax will be Rs 46,800. It is calculated … WebApr 10, 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a deduction of Rs 1.5 lakh ... how much are eyes worth in lumber tycoon 2