Scenario three - Old vs new tax regime
In the old tax regime, total deductions will amount to ₹4.35 lakh. Net taxable income will come in at ₹25.65 lakh. Net tax payable after factoring in the education and health cess will be at ₹6.05 lakh. It will come in at ₹6.08 lakh under the new tax regime. However, old regime is slightly better in which you will save ₹3,120.