scorecardresearchBudget 2023: Old vs new income tax regime; which is better for 30 lakh

Budget 2023: Old vs new income tax regime; which is better for 30 lakh income?

Updated: 02 Feb 2023, 11:28 AM IST
TL;DR.

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.

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Scenario three - Old vs new tax regime
First Published: 02 Feb 2023, 11:28 AM IST