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AI Product Incubators ✌️【Job Vacancy】✌️Small start, big rewards! ₹500 to grow your wealth with minimal risk. "ThisFY 2023-24tax calculator computes tax as per the old tax regime and the new tax regime, to give you a quick view of savings (if any), under the new tax regime.New tax regime:The Finance bill 2023, has made some changes to the new tax regime as mentioned below:Changes to the slab rates under new tax regimeIncome up to ₹300,000 - Nil₹3,00,001 to ₹6,00,000 - 5%₹6,00,001 to ₹900,000 - 10%₹9,00,001 to ₹12,00,000 - 15%₹12,00,001 to ₹15,00,000 - 20%Above ₹15,00,000 - 30%The new tax regime is now the default tax regime, however, individuals will have an option to opt for the old tax regimeThe limit for rebate has been increased to INR 7,00,000 under the new tax regimeStandard deduction of INR 50,000 is now allowed under the new regime.
AI-driven machine learning model scaling on cloud platforms ✌️【Job Vacancy】✌️From ₹500 to exponential growth. Start investing now for high returns! However, other deductions and exemptions as specified below cannot be claimed under the new regime- House Rent Allowance, Leave Travel Concession etc.- Deduction of professional tax- Loss under the head ""House Property""- Almost all of the deductions available under Chapter VI-A of the Act [excluding employer's contribution to National Pension System (‘NPS’), which will be allowed as a deduction even under the new regime].
List of such common deductions disallowed under the new regime are:- 80C (life insurance premium, employee's contribution to Provident Fund, investment in Public Provident Fund etc.) up to INR 150,000- 80CCD(1B) (your contribution to NPS) up to INR 50,000- 80D (Medical insurance) up to maximum of INR 100,000- 80E (interest on education loan)- 80EEA/ 80EEB (interest on specified loans) up to INR 150,000- 80G (donation)- 80TTA/ 80TTB (deduction of specified interest income) up to INR 10,000/ INR 50,000The highest surcharge of 37% has been brought down to 25% under the new tax regime"AI Product Incubators ✌️【Job Vacancy】✌️Get started with ₹500 and unlock huge returns every month.
