Budget updates move fast, keep up with CAclubindia Pro. Subscribe today!

Computation of Old vs New tax regime I need

1073 views 10 replies

MPR Sanjay Kumar

3145 Points Joined November 2020

Dear Chartered persons,

Mrs Reena Jain total income is RS 850000 . now I wants to the tax computation calculation as per new tax regime under old tax regime please make an calculations

plse I need detail applicability tax calculation

Replies (10)

CA Rashmi Gandhi

Chartered Accountant

86505 Points Joined April 2011

Please mention financial year

MPR Sanjay Kumar

3145 Points Joined November 2020

@ honourable Rashmi Gandhi mam 2023 -24 ..

sabyasachi mukherjee

28118 Points Joined May 2017

Nature of assesse is also important salaried or self employed

MPR Sanjay Kumar

3145 Points Joined November 2020

Resident

CA Rashmi Gandhi

Chartered Accountant

86505 Points Joined April 2011

As per old it is 85800 & in new regime tax is Rs. 54600

MPR Sanjay Kumar

3145 Points Joined November 2020

@ honourable Rashmi Gandhi mam ,could you please show me a CALCULATION of this tax how they are calculating??? Plse mam

sabyasachi mukherjee

28118 Points Joined May 2017

Pls upload details of salary / income component.

CA Rashmi Gandhi

Chartered Accountant

86505 Points Joined April 2011

In old regime

upto 2.5 lakhs- Nil
next 2.5 lakhs-12500
next 3.5 lakhs-70000

Total 82 thousand 5 hundred + education cess 3,300= 85 thousand 8 hundred

In new regime

Upto 3 lakhs-0
Next 3 lakhs-15000
Next 2.5 lakhs-25000

Tax 40 thousand + education cess 1600 =41600