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New Tax Regime: After the presentation of the General Budget-2023, there have been many changes in the tax system, so if you are from taxpayers, then along with knowing these important changes, you should also know how we can save tax in the new tax regime. . On the other hand, if you were looking for such methods, then you are at the right place, today we are going to give you all the information related to it. Explain that the government has not given any exemption directly in the new tax system, but the government has made a better effort to give its benefits to taxpayers through standard deduction. In such a situation, you can save tax by trying these methods given below.
If you have given any property on rent, then do this work
If you own any property on rent, you can claim standard deduction on it. Let us tell you that under this you can claim the benefit of standard deduction at the rate of 30 percent, where you will be able to find out its true value by removing the municipal tax on the rental property. After this you will be able to claim 30% standard deduction.
If there is a stake in EPF, then you can take this benefit
If you give 12% of your salary in EPF (EPF), then you get exemption in New Regime Tax. In such a situation, if you contribute 12% in this, then you can save tax through it. At the same time, a condition has also been kept for this by the government, according to which the benefit received at the time of retirement should not exceed Rs 7.5 lakh, if this amount is more then you will not be able to take advantage of it.
Benefits are also available on life insurance policy, know about it
According to the change in the new tax regime, you can get tax exemption on the maturity of the life insurance policy, where the tax will have to be paid only on the maturity of the policy of more than 5 lakhs, while if this amount is less then it will not be taxed. . Along with this, if the policyholder dies, then no tax will be charged on the amount received by the nominee. At the same time, knowing about these methods, you can take better advantage.
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