With this background, we are putting certain screenshots with examples that have gone into great detail in analyzing what is good or bad for the individuals. So the gist of the information is that if you are earning up to 10 Lakh you better stick to the old regime if utilizing all tax-saving instruments.
However, if you are one of those who does not ever undertake any investments for tax saving purposes, then with closed eyes you can switch to the new tax regime.
It is better that each individual undertakes income tax calculation as per the new and old tax regime to find what is a better and more tax-efficient system for him. Remember once migrated to the new system, you can not revert to the older system. Have a look at the screenshot below:
Annual Income of 7.5 Lakh with exemption
Annual Income of 10 Lakh with exemption
Annual Income of 12.5 Lakh with exemption
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