Old personal tax regime vs new tax regime: Choosing made easy here3 min read . Updated: 03 Feb 2023, 10:52 AM IST
- If the aggregate amount of deductions and exemptions that you are eligible to claim under the old tax regime is more than the breakeven threshold that matches the income level, then you would be better off sticking to the old tax regime. Otherwise, it is better to move to the new tax regime
New Delhi: To encourage adoption of the new tax regime, the government announced several changes in the Union Budget for 2023-24. The budget proposed to allow tax rebate on income up to ₹7 lakh under the new regime, compared to ₹5 lakh offered under both the old and new income tax regimes.
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