Witryna16 lut 2024 · The new tax regime was introduced to simplify taxes and reduce the burden of compliance on taxpayers. The major difference between both of these tax regimes is income tax slab rates as well as the ability to claim exemptions and deductions. Even 2 years post the introduction of the New tax regime under section …
NPS Tax Benefits 2024 – Under New Tax and Old Tax …
Witryna7 lut 2024 · The new tax regime for individuals and Hindu Undivided Families (HUF) was introduced for the financial year (FY) 2024–21 in the Union Budget 2024. ... Taxpayers have more freedom under the new tax system to invest their money as per their financial goals. Under the new system, there is no obligation to invest in insurance and tax … Witryna17 lut 2024 · New versus old tax regime If you have no plans to make tax-saving investments, you may opt for the new tax regime. From FY21 onwards, taxpayers have two options. lezend classes online
Deductions Allowed Under the New Income Tax Regime
Witryna17 sty 2024 · Borrowing. ELTIFs marketed to retail investors can increase the borrowing of cash up to 50% of the ELTIF value instead of 30% in the current regime. This limit increases to 100% of the value of the ELTIF when the fund is marketed to professional investors. ELTIF will be able to contract in a currency other than the base currency … Witryna11 kwi 2024 · List of Deductions and Exemptions under Old Tax Regime. Investments under Section 80C up to Rs 1.5 lakh (Public Provident Fund, Equity Linked Savings … Witryna12 kwi 2024 · April marks the beginning of a new financial year, which is when usually new income tax laws come into effect. For the financial year 2024-24, the government has revised the income tax slabs under the new tax regime to make it more attractive in comparison to old tax regime.Further, many other benefits have also been brought … mcdermott law calgary