How taxes are calculated on salary above 7 lakh in new regime? A quick view

Among the key highlights of new tax regime would be, the exemption limit to the salary of ₹7 lakh. This means, a taxpayer whose income is ₹7 lakh will not be required to pay any tax. But this is not the case with the old regime, where the exemption limit is ₹5 lakh.

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