Old vs New Tax Regime Which One Fits Your Salary? Your salary doesn’t decide your tax alone the tax regime you choose does. In India, the Old Tax Regime rewards disciplined savers with deductions like HRA, 80C, 80D, and home loan benefits, helping reduce taxable income. The New Tax Regime, on the other hand, offers lower slab rates with almost no deductions simple, straightforward, and hassle-free. There’s no “better” option, only the right fit based on your income, investments, and financial ha
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Old vs New tax regime- which is better? ✅Under New tax regime, income tax will be Rs 85,800 after claiming a standard deduction of Rs 50,000 on income of Rs 12 lakhs ✅Under Old tax regime, income tax will be Rs 85,800 after claiming a total deduction of Rs 3,50,000 📌Here is how: -Standard deduction (50,000) -80C deduction (1,50,000)- By investing in ELSS funds,tax saving FD, insurance etc -80D deduction (50,000) - 25k for self and 25k for parents- Mediclaim -HRA exemption(1,00,000) HRA benefit
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