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 .
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Regarding Tax computation
Replies (7)
Quick Summary
Under old regime tax = 44696
under new regime tax = 57876
under new regime tax = 57876
Thanks
How you arrive at this figure. Any working please
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
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
Thanks
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