New Tax Regime: Understanding the math behind Rs 17,500 annual tax savings
4 min read
July 31, 2024 by Team Instabizfilings
The math behind the Rs 17,500 annual tax savings in the new tax regime can be broken down into two parts:
Slab Rate Reduction Effect: This amounts to Rs 10,000.
Standard Deduction: An additional Rs 25,000 deduction at 30% results in Rs 7,500 savings.
Thus, the total tax saving