Tax rebate on an income of up to ₹7 lakhs has been introduced under the new tax regime. This means that taxpayers with an income of up to ₹7 lakhs can claim all the tax paid(Yes you need to file ITR)! Standard deduction: Salary income: ₹50,000 standard deduction under the...
Under the Deductions section, you will see a note stating the maximum deduction as per old and new tax regime. Here, Enter Basic deduction as per Section 80C Contribution to NPS/ National Pension Scheme – if any, Medical Insurance premium – if applicable ...