Income Tax Return: Nation In Now double tax Management Is, One is the old tax regime and the other is the new tax regime., new tax regime According People get tax exemption up to an annual income of Rs 7 lakh, However, in this regime, except for the standard deduction, people do not get any tax on other investments. Benefit Not available, Whereas in the old tax regime Income tax The slabs are slightly different but in this people also get exemption on investment., In such a situation, let us know some special things about the old tax regime…
income tax return
if you are 60 Year is lower than and from the old tax regime Income tax If you file returns, different tax slabs will be applicable., There itself If your age 60 Year From More And if you file tax from the old tax regime, then you will be charged with different tax slabs., 60 Year Tax slabs in the old tax regime for people below Rs 2.5 lakh per annum nil tax, Rs 2.5 lakh to Rs 5 lakh per annum 5 Percent Tax, 20 on annual income of Rs 5 lakh to 10 lakh Percent Tax and 30 on income above Rs 10 lakh Percent tax will apply,
tax slab
There itself If Have to file tax from old tax regime and age 60 Year to 80 Year If it is between then no tax will have to be paid on annual income of Rs 3 lakh, 5 on annual income of 3 to 5 lakh rupees Percent Tax, 20 on annual income of Rs 5 to 10 lakh Percent Taxes and Rs 10 lakh per annum More 30 on income Percent have to pay tax,
Income Tax
There itself If your age 80 Year 5000 and you have to file ITR according to the old tax regime, then you will not have to pay any tax on annual income of Rs.5 lakh., 20 lakh on the income of Rs. 5 lakh to Rs. 10 lakh per annum. Percent taxes and from Rs 10 lakh More 30 on annual income of Percent have to pay tax,