New Tax Brackets 2024 Vs 2024 Lok. Despite the enhanced standard deduction in the new tax regime, the old regime remains preferable for taxpayers availing deductions such as hra, lta, 80c, and 80d. In the 2023 union budget, the default tax regime was changed.
For lower income ranges, the new regime is more advantageous due to the higher rebate, which exempts taxpayers with a taxable income of up to โน7 lakh, compared to โน5 lakh. An individual has to choose between new and old tax regime to calculate their income tax liability, subject.
New Tax Brackets 2024 Vs 2024 Lok Images References :
