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  • New Vs Old Regime

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    joy
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    The document appears to be a tax calculator comparing tax liability under the old and new tax regimes in India. It requests information about the taxpayer's gross income, deductions, and exemptions to calculate the taxable income and tax owed under both the old and new tax slabs. It notes that under the new regime, only certain deductions related to housing and the National Pension System are allowed, so the tax liability may be lower even without claiming deductions by investing in other options.

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    Original Title

    New vs Old regime

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    The document appears to be a tax calculator comparing tax liability under the old and new tax regimes in India. It requests information about the taxpayer's gross income, deductions, and exemptions to calculate the taxable income and tax owed under both the old and new tax slabs. It notes that under the new regime, only certain deductions related to housing and the National Pension System are allowed, so the tax liability may be lower even without claiming deductions by investing in other options.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views6 pages

    New Vs Old Regime

    Uploaded by

    joy
    The document appears to be a tax calculator comparing tax liability under the old and new tax regimes in India. It requests information about the taxpayer's gross income, deductions, and exemptions to calculate the taxable income and tax owed under both the old and new tax slabs. It notes that under the new regime, only certain deductions related to housing and the National Pension System are allowed, so the tax liability may be lower even without claiming deductions by investing in other options.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    Name

    Gross Income
    Basic + DA
    Standard Deduction
    Section 80C
    Section 80D
    Housing Rental Allowance
    Home Loan
    NPS (80 CCD)
    Corproate NPS
    Other deductions + exemptions?
    Total deductions + exemptions

    Which is better?
    Taxable Income under old regime
    Taxable Income under new regime
    Tax payable (without health and education cess)

    Point to Remember:

    YOU ONLY GET cells C5 and C11 deduction in the new regime. So
    if your answer is "new regime", you do not need to invest in
    anything, you can just enjoy that money but advice is that you
    should still keep on investing even though you do not get any
    deductions.
    Taxable Income under old regime
    Taxable Income under new regime

    Old regime tax


    0
    0
    0

    New Regime Tax


    0
    0
    0
    0
    0
    Amount LEARNING WITH LAKSHYA
    0 NEW REGIME VS OLD REGIME CALCULATOR
    0
    0
    0
    0
    0
    0
    0
    0 Max: 10% of Basic + DA START FROM HERE
    0 <<<< Calculate this yourself Are you a salaried individual?
    0

    NA
    0 Tax in new regime
    0 Tax in old regime
    0
    0 Tax in new slab
    0
    Tax in old slab

    0 2.5 to 5
    0 5 to 10
    0 > 10

    0 3 to 6
    0 6 to 9
    0 9 to 12
    0 12 to 15
    0 > 15
    G WITH LAKSHYA
    OLD REGIME CALCULATOR

    T FROM HERE
    yes

    0
    0
    0

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