which tax regime is beneficial for salary income of 7 Lakhs PA , under old regime or new regime ?
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Quick Summary
This discussion explores whether the old or new tax regime is more beneficial for an annual salary of £7 Lakhs. It concludes that if you don't have significant deductions like those under Section 80C, Mediclaim, or HRA, the new tax regime is likely to be more advantageous. The advice is straightforward for individuals without common tax-saving investments or expenses.