Certification course on Balance Sheet Finalisation

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NEW Vs OLD TAX REGIME

This query is : Resolved 

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.

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.

02 February 2023 Thanks for your reply Sir, Basic exemption limit for old tax regime is 2.5 lacs or 3 lacs?

02 February 2023 Same as Rs. 2.50 lakhs.
No change in old tax regime.

02 February 2023 NOW ITS CLEARED. THAK YOU VERY MUCH SIR

02 February 2023 You are welcome..



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