New tax regime tax slabs FY 2023-24.

No changes in Old Tax Regime. All changes in New Tax Regime only -
1. New Tax Slab:
Rs 0-3 lakh - Nil
Rs 3-6 lakh - 5%
Rs 6-9 lakh - 10%
Rs 9-12 lakh - 15%
Rs 12-15 lakh - 20%
>Rs 15 lakh - 30%

2. Rebate till 7 Lakhs
3. Standard deduction extended to new tax regime

What do you think, is new regime still useful in case you are living in rented accommodation and investing 1.5 LPA in 80C?

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In my opinion government is fooling us, by pubically saying we have reduced tax rate... If you have 80C and HRA exemption available for you then old scheme is anyday better than new one( for whatever income you earn)

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True, I have checked. Old regime still gives me benefits of 60k per annum with 1.5 L in 80C and 240k annual rent l.

Let me guess the next year tax slabs as per new tax regime, there may be similar increase of 50k in tax slabs considering the schedule of general elections 2024:

No tax until 7.5 LPA and tax slabs for more than 7.5 LPA may be as follow:

0 to 3.5 L. - No tax
3.5 to 7 L - 5% tax
7 to 10 L - 10% tax
10 to 15 L - 20% tax
More than 15 L. - 30% tax

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Old tax regime will end right?

Thanks

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