Old or New Regime- Your preference.

[BRIG NARINDER DHAND]

Dear Col Chopra, 

There was an error in our first mail which we realised as soon as the mail had been sent by our team member . The mistake was instantly corrected on our web site.

https://signalsfamily.blogspot.com/2024/05/itr-jul-24-tax-liabilities.html

In this site the new tool has also been made available for use by even by a lay man to know the preference of Regime. 

Your calculations are correct, savings on new regime are 50K plus minus depending upon deductions and age of the tax payer.

For all of us filing ITR-1 we can simply go for New Regime.

Best wishes.

Brig Narinder Dhand
Founder & Convener
Bigger Family of Veterans
https://signalsfamily.blogspot.com
Knowledge Empowers

On Tue, 28 May, 2024, 20:25 Yash Pal Chopra, <yashpal...@yahoo.co.in> wrote:

Sir

Under new regime only standard deduction of 50000 is allowed!

The tax on 15 lakhs works out 1,50,000 as under

3 to 6 L. 5%. So    15 ,000

6 to 9 L 10%. So    30, 000

9 to 12 L 15% So    45, 000

12 to 15 L. 20% So  60, 000

Tax would be on 

15 L taxable income  1,50,000

Above 15 L it is 30% slab !

Please get the figures reconciled!

Saving of 50K is there for all having income above 15.5 L

Regards 

Col Yash Pal Chopra ( Tetd)

Sent from my iPhone

[SREEMA KASI]

Dear Sir, 

Thanks for the mail.

Is it possible to compare with old regime. 

Rdgs,

"EAWSWARO RAKSHADU."

COL CV KASIVISWANATHAN.,9113544352,

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