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Regarding Tax computation

Others 276 views 7 replies
Please can anyone assist me and let me know how much tax will be payable both under old income tax slab and new income tax slab . Till now I have not use new income tax slab option. So I can prefer anyone from it where tax liability comes lower

For Financial Year 2020-2021
Salary Income Rs 5,40,000
Short term capital gain Rs 2,61,000 from equity shares ( only delivery base and not intraday)
Section 80 C 150,000
Section 80 D Mediclaim 25,000

So I can plan accordingly right now .
Replies (7)
Under old regime tax = 44696
under new regime tax = 57876
Thanks
How you arrive at this figure. Any working please
Under old regime
Tax on normal rate salary income less deduction tax = multiplied by 5 percentage =5750
and on STCG 261000 at 15 percentage = 39150
total 46696 including 4 percent cess mistakenly 44696

under new regime no deduction is allowed

tax on normal rate= 16500
on STCG= 39150

total 57876 including 4 percent cess
Ok Thanks a lot
Your welcome
Go for old regime as tax liability is lesser by approx 13000/-
Ok noted
Thanks


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