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Income tax · both regimes

Basic exemption is the first row

This page is the basic-exemption row in the filing table. It is not the slab bands. The office is at 515 Trichy Road, Singanallur.

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Quick answer

This page is the basic exemption. The standard deduction stays on the standard deduction page. The regime choice stays on the slabs page. Do not send the income-tax password in chat. Call +91 94454 38387.

What the filing table states

On the new regime, the basic exemption is ₹4,00,000. On the old regime the cell is ₹2,50,000, or ₹3,00,000 for a senior citizen. The new regime is the default under section 115BAC. You choose before the return is filed.

The old-regime cell names a senior citizen. It does not state an age. The new-regime cell does not name a senior citizen. Confirm that on the return.

What it is not

The standard deduction is the next row. This page does not state that figure. The section 87A rebate is also a different row. The slabs page explains the choice and does not freeze the bands above this row.

Before the return is filed

  1. Send Form 16, and say which regime you want compared.
  2. The desk reads the basic exemption from the filing table.
  3. You choose before the return is filed, and you approve the draft. Filing stays on the income-tax filing page.
  4. You complete e-verification yourself. That step is on the e-verification page.

After the return is filed, e-verify within 30 days. The return is quoted before it is filed. The first discussion is free.

Common questions

Is the basic exemption the same on both regimes?

No. The filing table states ₹4,00,000 on the new regime. The old-regime cell is ₹2,50,000, or ₹3,00,000 for a senior citizen.

What age makes someone a senior citizen?

The old-regime cell names a senior citizen. It does not state an age. The new-regime cell does not name a senior citizen.

Does this page state the slab bands?

No. This row is the basic exemption. The slabs page explains the choice and does not freeze the bands above it.

Related pages

Standard deductionThe next row Tax slabsThe choice, not the bands Section 87AThe rebate Income tax filingThe table this page uses

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