12 Lacs, there is not much option to save maximum income tax. ![]() 12 Lacs, you can opt for Old Tax Regime, and make some Tax saving investments and Save Income Tax.īut if your income is above Rs. Every individual is having different incomes in a Financial Year. ![]() To answer this question, it depends on person to person. In case you want to claim various deductions to save income tax, you might have to check how much income tax can be saved using Old Tax Regime. Tax Slab Rates to calculate Income Tax FY 2022-23Īs seen above, New Tax regime has reduced tax slab rates which means you will be paying less income tax, if you are not opting for any investment deductions. Old Tax Regime vs New Tax Regime Slab Ratesīelow is the table showing Old and New Tax Slab Rates for FY 2022-23: Income
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