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Income Tax 2024: Old Tax Regime slabs vs New Tax Regime slabs explained for senior citizens

Under the new tax regime, senior citizens can claim a maximum deduction of Rs 50,000 under section 80D for health insurance premiums. If the expenses are incurred for a dependent senior citizen, the entitlement is Rs 1 lakh in a fiscal. ....

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Income tax returns 2024: Top 5 points to note while selecting New Tax Regime for FY2024-25

The New Tax Regime was made the default option for all taxpayers in Union Budget 2023, including individuals, Hindu Undivided Families (HUFs), and Association of Persons (AOPs). ....

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