How much income tax will I pay if I earn Rs.10 lakhs per …
When the deductions claimed total Rs. 1,87,500, a taxpayer with an annual income of Rs. 10 lakhs will pay the same tax under both the new and old regimes. This means that if you claim deductions and exemptions totaling less than Rs. 1,87,500 in a year, the new tax regime will be more beneficial to your income tax bracket.