Difference Between Old and New Tax Regime for ITR
Difference Between Old and New Tax Regime for ITR
Apr 23, 2023
Rajeev Kumar
There are several differences between Old and New Tax Regime. Read on to find most important differences
There are several differences between Old and New Tax Regime. Read on to find most important differences
Old Tax Regime: Income up to Rs 5 lakh is tax free New Tax Regime: Income up to Rs 7 lakh is tax free
Old Tax Regime: Income up to Rs 5 lakh is tax free New Tax Regime: Income up to Rs 7 lakh is tax free
Old Tax Regime: Deduction for home loan interest, principal payment allowed New Tax Regime: No deduction allowed
Old Tax Regime: Deduction for home loan interest, principal payment allowed New Tax Regime: No deduction allowed
Old Tax Regime: HRA exemption is allowed for salaried taxpayers. New Tax Regime: No HRA exemption allowed
Old Tax Regime: HRA exemption is allowed for salaried taxpayers. New Tax Regime: No HRA exemption allowed
Old Tax Regime: You can claim deductions under Section 80C, 80D etc. New Tax Regime: No deduction allowed
Old Tax Regime: You can claim deductions under Section 80C, 80D etc.
New Tax Regime: No deduction allowed
Old Tax Regime: Basic Exemption Limit is Rs 2.5 lakh New Tax Regime: Basic Exemption Limit is Rs 3 lakh
Old Tax Regime: Basic Exemption Limit is Rs 2.5 lakh New Tax Regime: Basic Exemption Limit is Rs 3 lakh
Old Tax Regime: 4 tax slabs with rates ranging from 5% to 30% New Tax Regime: 6 tax slabs with rates ranging from 5% to 30%
Old Tax Regime: 4 tax slabs with rates ranging from 5% to 30%
New Tax Regime: 6 tax slabs with rates ranging from 5% to 30%
new vs old tax regime, difference between old and new tax regime
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