Budget 2023: Old vs new income tax regime; which is better for 10 lakh income?

In the old tax regime, total deductions will amount to ₹3.35 lakh. Net taxable income will come in at ₹6.65 lakh. Net tax payable after factoring in the education and health cess will be at ₹47,320. In the new tax regime, net taxable income will come in at ₹9.5 lakh and net tax payable at ₹54,600. However, old regime is better in which you will save ₹7,280.