Rebate Under New Tax Regime 2024. The basic exemption limit was also hiked to rs 3. Introduction of the new tax regime:
5 min read last updated : The threshold is rs 5,00,000 in the old tax regime.
Tax Rebate Up To Rs.25,000 Is Applicable.
Calculate your tax liability with new regime tax calculator, know how much tax you will have to.
However, Under The New Tax Regime, This Rebate Limit Has Increased To โน 25,000 If The Taxable Income Is Less Than Or Equal To โน 7 Lakh.
New tax regime becomes default tax regime 4.
In The Interim Budget, Set To Be Announced On February 1, The Centre May Raise The Tax Rebate Under The New Income Tax Regime To Rs 7.5 Lakh From Rs 7 Lakh.
Images References :
In The Interim Budget, Set To Be Announced On February 1, The Centre May Raise The Tax Rebate Under The New Income Tax Regime To Rs 7.5 Lakh From Rs 7 Lakh.
In contrast, the old tax regime offers a rebate.
Introduction Of The New Tax Regime:
In budget 2023, the centre raised the rebate under the new income tax regime to rs 7 lakh from rs 5 lakh.