WebNet Tax liability. 121,680. 195,500. The best way to save tax for a salary above 15 lakhs is to opt for the old tax regime and claim all the available deductions and exemptions on tax … WebSep 4, 2012 · Conditions apply. In a recent notification, salaried individuals with income less than Rs 5 lakh were exempted from filing income tax returns. However, there are certain conditions that such ...
Opted for new income tax regime? Here’s how you can save more
WebMar 14, 2024 · speaking on the matter Jitendra Solanki, a SEBI registered tax and investment expert said, "If an earning individual's annual income is more than basic income tax slab of Rs 2.5 lakh per annum, then one must file the income tax return to claim the income tax benefit on income from Rs 2.5 lak to Rs 5 lakh in both the income tax regime." WebJul 20, 2024 · Updated: 20 Jul 2024, 11:00 AM IST Revati Krishna. If your taxable income is above ₹ 5 lakh, you can avoid paying tax by investing in certain investment instruments. … central peoria high school
Income Tax: How to choose between the old and new tax regime …
WebFeb 24, 2024 · Income Tax on Rs 8 lakh income. Without Exemptions/Deductions, the tax calculator shows those earning Rs 8 lakh annual income will have to pay Rs 75400 as tax … WebMar 23, 2024 · Employees who contribute Rs 5 lakh annually i.e. Rs 41,667 monthly into PF account will get the benefit of tax-free interest income on their deposits. However, if the PF contribution exceeds Rs 5 lakh annually, then the interest income on the additional PF contribution — the remaining amount after deducting Rs 5 lakh — will be taxed. http://tes.zeebiz.com/hindi/personal-finance/income-tax/income-tax-calculation-2024-new-vs-old-tax-regime-calculated-income-tax-on-rupees-seven-lakh-50-thousand-annual-salary-124972 buy kitchen online