NEW Vs OLD TAX REGIME
This query is : Resolved
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PANDIAN BRIGHT
(Querist)
02 February 2023
Rebate u/s 87A for Income up to Rs.7lacs is for both New and Old Tax regime or only for new tax regime?. Please clearly explain about OLD tax regime.
Dhirajlal Rambhia
(Expert)
02 February 2023
Rebate for new tax regime will be upto Rs. 7 lakhs income. (from FY 2023-24)
For old tax regime it remains as it is, i.e. upto Rs. 5 lakhs.
For old tax regime it remains as it is, i.e. upto Rs. 5 lakhs.
PANDIAN BRIGHT
(Querist)
02 February 2023
Thanks for your reply Sir, Basic exemption limit for old tax regime is 2.5 lacs or 3 lacs?
Dhirajlal Rambhia
(Expert)
02 February 2023
Same as Rs. 2.50 lakhs.
No change in old tax regime.
No change in old tax regime.
PANDIAN BRIGHT
(Querist)
02 February 2023
NOW ITS CLEARED. THAK YOU VERY MUCH SIR
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Dhirajlal Rambhia
(Expert)
02 February 2023
You are welcome..
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