Old & New Tax Regime – Exemptions / Deductions (FY: 23-24)
A snapshot of the exemptions / deductions applicable for FY: 2023-24 (AY: 2024-25) under the Old & New Tax Regimes are summarized as under: Particulars Old Tax Regime New Tax Regime (From 1st April 2023) Income level (for Rebate u/s 87A) ₹ 5 lakhs ₹ 7 lakhs Rebate u/s 87A ₹ 12,500 ₹ 25,000 Standard…