MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)
07 February 2023For sen.citizen if tax calculated for Rs.1028240/- under new regime for f.year 2022-23,
upto 500000 means 10000/- or 12500/- need to add?
calculation as under
upto 500000- 12500/-
5-7.5 L 25000/-
7.5 -10 37500/-
10-12 5648/-
total 80648/- or (12500-2000=10000) 78648/-
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178114 Points)
Replied 07 February 2023
For Sr. Ctz., up to Rs. 5 lakhs... Tax will be Rs. 12,500/- (new Tax regime)
Total tax payable = 80648 + 3226 (cess) = 83,874/-
Under old tax regime same will be 1,23,211/-
Savings of Rs. 39,337/- under new regime.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 07 February 2023
CAclubindia
