Shreyaa Kapoor Instagram – You must have received an email to select the right tax regime for this financial year! 🙌🏼
This decision is primarily based on two variables: your income and how much do you claim in deductions. 🙌🏼
In the example discussed in the reel, I claim 2L in deductions and according to my 8L salary, I save more taxes with old tax regime. 🌱
Some of the deductions that you can claim are:
-Standard deduction (50,000)
-80C deduction (1,50,000)
-80CCD deduction (50,000)
-80D deduction (50,000) – 25k for self and 25k for parents
-24(b) home loan deduction (2,00,000)
-80E education loan deduction (50,000)
Among many many others!
Pick and choose which deductions are the right fit for you and according to your income and deductions, see which regime fits the bill better for you. 🙏🏼
If you think your income level is not covered in the excel then you can simple do this exercise with multiple tax calculators available online!🥂
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[tax, tax tips, tax regime, personal finance, finance tips, personal finance hacks] | Posted on 20/Apr/2024 21:04:30
