Change of Tax Regime for FY 24-25

GoofyRaccoon · 2024-04-11T11:29:00.594287+05:30

1. As we know the new tax Regime is the default tax regime for everyone. 2. I have some investments such as term insurance,Health Insurance for me and my parents and education loan paying every month interest of 5000/- which is 60000/- Per annum. And Investing 500/- per month in PPF. 3. Which tax regime is better for me where my ctc is 8.15LPA. 4. Last year they deducted 17000/- in my retention bouns for opt the old tax regime. And total of 30000/- is deducted as income tax for FY23-24. Thanks in advance

As we know the new tax Regime is the default tax regime for everyone.
I have some investments such as term insurance,Health Insurance for me and my parents and education loan paying every month interest of 5000/- which is 60000/- Per annum. And Investing 500/- per month in PPF.
Which tax regime is better for me where my ctc is 8.15LPA.
Last year they deducted 17000/- in my retention bouns for opt the old tax regime. And total of 30000/- is deducted as income tax for FY23-24.

Thanks in advance

23mo ago

SillyDonut

TCS

23mo

815000 , 315000(you need to show deduction) Stan ded 50k Ur edu int 60k Pf and heal 50k, still 1lk left (80c) Rent allowance 70k (avg) depends on basic
Despite of doing term plans (worst) and other opt for MF for 6000/month as sip you can enjoy your tax free duty