Web30 mrt. 2024 · The total amount of pre-construction interest and interest on a housing loan that can be claimed in a year should not exceed Rs 2 lakh in any case. The deduction for this interest is allowed in 5 equal instalments starting from the year in which the house is purchased or the construction is completed. Web9 apr. 2024 · Updated: 09 Apr 2024, 08:11 PM IST Vipul Das. Tax savers should allocate their investments more wisely now that the new fiscal year, FY24, has already started in …
How to decide which Income Tax Regime is good for you
WebIn the budget 2024, In case of New Regime, The maximum limit of non-taxable income for an individual is set at Rs 3 lakh. However, you can also get a rebate of Rs 25000 under section 87A if you have a total income of up to Rs 7 lacs for FY 2024-24. Web11 apr. 2024 · Salaried individual taxpayers with total income of upto Rs. 7,50,000 may opt for the new tax regime u/s 115BAC of the IT Act and ... 80E, 80G including interest payment on home loan under ... pterylae in chicken
Should you go for the new tax regime?
Web3 feb. 2024 · These were the income rates for 2024-23 under the new tax regime 1. Up to Rs 2.5 lakh income there is 0% or NIL tax 2. From Rs 2.5 lakh to Rs 5 lakh the tax rate is 5% 3. From Rs 5 lakh to Rs 7.5 lakh the tax rate is 10% 4. From Rs 7.5 lakh to Rs 10 lakh the tax rate is 15% 5. From Rs 10 lakh to Rs 12.5 lakh the tax rate is 20% 6. Web1 feb. 2024 · With an aim to make the new tax regime lucrative, ... (Health Insurance up to Rs 25,000) and interest on home loan under Section 24B (Rs 2,00,000 deduction) and Rs 50,000 under NPS, ... Web9 feb. 2024 · The new tax regime does not disallow interest deduction for a let-out property. Let’s say your rental income (after municipal taxes and standard deduction) is Rs 2.5 lacs. Interest paid for home loans on those properties is Rs 6 lacs. Income from house property = Rs 2.5 lacs – Rs 6 lacs = – Rs 3.5 lacs pterygotus locations