Basics of Income Tax for Beginners - Groww
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Basics of Income Tax for Beginners - Groww
The income tax season is here! If you are a first-time taxpayer, get yourself acquainted with all the basic terminologies with our guide to income tax for beginners.
Jul 24, 2024
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The New Tax Regime is simple. But simple doesn’t always mean better. If your income is below ₹12 Lakhs 👉 ✅ Zero tax after rebate ✅ No deductions needed ✅ Clean, stress-free filing But if you earn above ₹12 Lakhs 👉 You must understand slabs, effective tax, and real savings — because blindly choosing a regime can cost you lakhs every year. This table shows the actual tax impact from ₹8L to ₹50L — not assumptions, but real numbers. 👉 Salaried employees 👉 Professionals 👉 Business owners Tax pla
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The New Tax Regime is simple. But simple doesn’t always mean better. If your income is below ₹12 Lakhs 👉 ✅ Zero tax after rebate ✅ No deductions needed ✅ Clean, stress-free filing But if you earn above ₹12 Lakhs 👉 You must understand slabs, effective tax, and real savings — because blindly choosing a regime can cost you lakhs every year. This table shows the actual tax impact from ₹8L to ₹50L — not assumptions, but real numbers. 👉 Salaried employees 👉 Professionals 👉 Business owners Tax pla
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