to get tax in new regime deduct standard deduction 75000/- from your total gross income and enter the income.
to get tax in old regime duduct standard deduction 50000/- and all savings as per rules and put taxable income.
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incom tax old regime 0 - 250000 tax : NILL250001 - 500000 tax : 5% of income exceeding 250000 500001 - 1000000 tax : 12500+20% of income exceeding 500000 above 1000001 tax : 112500+30% of income exceeding 1000000 |
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incom tax NEW regime 0 - 300000 tax : NILL300001 - 700000 tax : 5% of income exceeding 300000 700001 - 1000000 tax : 20000+10% of income exceeding 700000 1000001 - 1200001 tax : 50000+15% of income exceeding 1000000 1200001 - 1500001 tax : 80000+20% of income exceeding 1200000 above 1500001 tax : 140000+30% of income exceeding 1500000 |
Deduct a tax rebate upto 12500/- for individuals having total taxable income 5 Lakhs in old regime. Rebate up to Rs 20000 in Gross Salary up to 7.75 Lakhs Including Standard Deduction in New Regime( 75000/-) (Section 87-A)
