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which one to chose old or New tax regime ????

🔸New (Revised) vs Old Tax Regime - Which one to chose?? 

Wondering which would be more beneficial for you - New or Old?? 🤔

Let's answer that in a Simple, Easy to Understand way!! 

NO Jargon, NO Complex Excel sheets👇
🔹 For Income up to 7 Lakhs

- If Deductions + Exemptions > 200,000 : Old Regime 

- If Deductions + Exemptions < 200,000 : New Regime

🔹 For Income up to 8 Lakhs

- If Deductions + Exemptions > 212,500 : Old Regime

- If Deductions + Exemptions < 212,500 : New Regime

🔹 For Income up to 9 Lakhs

- If Deductions + Exemptions > 262,500 : Old Regime

- If Deductions + Exemptions < 262,500 : New Regime

🔹For Income up to 10 Lakhs

- If Deductions + Exemptions > 300,000 : Old Regime

- If Deductions + Exemptions < 300,000 : New Regime

🔹For Income up to 11 Lakhs

- If Deductions + Exemptions > 325,000 : Old Regime

- If Deductions + Exemptions < 325,000 : New Regime

🔹For Income up to 12 Lakhs

- If Deductions + Exemptions > 350,000 : Old Regime

- If Deductions + Exemptions < 350,000 : New Regime

🔹For Income up to 13 Lakhs

- If Deductions + Exemptions > 362,000 : Old Regime

- If Deductions + Exemptions < 362,000 : New Regime

🔹For Income up to 14 Lakhs

- If Deductions + Exemptions > 375,000 : Old Regime

- If Deductions + Exemptions < 375,000 : New Regime

🔹For Income up to 15 Lakhs

- If Deductions + Exemptions > 408,500 : Old Regime

- If Deductions + Exemptions < 408,500 : New Regime

🔹For Income > 15.5 Lakhs and up to 5 Cr

- If Deductions + Exemptions > 425,000 : Old Regime

- If Deductions + Exemptions < 425,000 : New Regime
That's all. I have covered all Income groups from 7 Lakhs to 5 Crores. 

Check for your Income Group. Save it for the Future Reference!! 



New Income Tax Regime to be the Default from 01/04/2023.



Don't we have old tax regime now?

Old scheme is very much there. New tax regime will be the default regime from now on and you just have to notify your employer if you want to opt for the Old regime.


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