https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985472
so no option to choose old regime ?
New Tax Regime vs Old Tax Regime?
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India's New Tax Rules 2024-25
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India's New Tax Rules 2024-25
India's new tax rules come into effect from tomorrow.
Income Tax rules applicable from April 1, 2024: New Tax regime set to become default option.
Under New Tax Regime, taxpayers no longer need to maintain a track record of travel tickets and rent receipts.
India's new tax rules come into effect from tomorrow.
- Upto 3 lakh - 0
- 3 lakh to 6 lakh - 5%
- 6 lakh to 9 lakh - 10%
- 9 lakh to 12 lakh - 15%
- 12 lakh to 15 lakh - 20%
- 15 lakh and above - 30%
Income Tax rules applicable from April 1, 2024: New Tax regime set to become default option.
Under New Tax Regime, taxpayers no longer need to maintain a track record of travel tickets and rent receipts.
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https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985479
You can choose the old regime
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https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985574
With respect to these regulations under the renewed scheme of things, any individual earning an income up to Rs 7 lakh annually shall not bear liability for paying taxes.
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So no tax for income untill 7 lakhs with respect itr 1 and some more.
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If you want to create such post, add all the information please.
https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985631
No tax till 7.5 lacs to be more precise, 50k standard deduction is available in new regime as well
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https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985672
I think it is for new regime..
https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9985814
Which is best regime ?if earning 24 lpa with almost 3.5 lacs of deductions/exemptions
https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9986467
Rk taraf bol rahe 0 to 3 lakh free dusri taraf 7.5 lakh.. kyq hai mamla.. and business man ke liye kitna free hai
https://www.desidime.com/discussions/india-s-new-tax-rules-2024-25?page=1#post_9986876
Same rules - up to 7 lakh free and if your income is 700001 ans above your exemption limit is 3lakh .
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so no option to choose old regime ?