Which regime makes more sense for you now?

Should you switch to the new tax regime or stay with the old regime? Here’s the answer to the biggest question after Budget 2024!

Which regime makes more sense for you now?

1. For an income below 7 lakhs, the new regime has zero taxes. You don’t have the hassle of submitting proofs and don’t need to pay taxes.

2. If you have an income below 11.8 lakhs with deductions and exemptions going up to 23.45 lakh (HRA, Standard deduction, 80C, 80D), then the old regime makes sense for you. Even better if you can claim more deductions (e.g. home loan).

3. For an income above 11.8 lakhs with the same deductions, the new regime would be a much better bet.

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Видео Which regime makes more sense for you now? канала MG & Associates