IT Return: Without deductions & claimes what are the tax payable under both the old existing regimes and new regime under the section u/s 115BAC?
The tax payable under both the latest and the existing regimes without claiming deductions and exemptions is as below. Please note that the new tax regime does not allow 70 deductions and exemptions.
| Annual income | Tax under the existing regime (Rs) | Tax under the new regime (Rs) | Tax savings under the new regime (Rs) |
| Up to Rs 7,50,000 | 65,000 | 39,000 | 26,000 |
| Up to Rs 10,00,000 | 117,000 | 78,000 | 39,000 |
| Up to Rs 12,50,000 | 195,000 | 130,000 | 65,000 |
| Up to Rs 15,00,000 | 273,000 | 195,000 | 78,000 |
