https://www.taxtmi.com/article/detailed?id=11066 Illustrative comparisons compute total tax for salaried persons under the old and proposed new tax regimes across salary levels, assuming in the old regime a Rs.150,000 Chapter VIA deduction plus Rs.50,000 standard deduction and in the new regime only a Rs.50,000 standard deduction. Two worked examples for a Rs.1,200,000 salary-(1) claiming HRA, standard deduction and Chapter VIA deductions, and (2) claiming only HRA and standard deduction-show the differing taxable incomes and tax amounts under each regime, demonstrating that relative tax burden depends on the deductions and exemptions claimed. en-us Thu, 02 Feb 2023 13:32:11 +0530 Thu, 02 Feb 2023 13:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11066 Illustrative comparisons compute total tax for salaried persons under the old and proposed new tax regimes across salary levels, assuming in the old regime a Rs.150,000 Chapter VIA deduction plus Rs.50,000 standard deduction and in the new regime only a Rs.50,000 standard deduction. Two worked examples for a Rs.1,200,000 salary-(1) claiming HRA, standard deduction and Chapter VIA deductions, and (2) claiming only HRA and standard deduction-show the differing taxable incomes and tax amounts under each regime, demonstrating that relative tax burden depends on the deductions and exemptions claimed. Articles Income Tax Thu, 02 Feb 2023 13:32:11 +0530 https://www.taxtmi.com/article/detailed?id=11066