The New Tax Regime and the Benefits

The new tax regime brings down the highest effective tax rate for the super rich from about 43% to 39%. If your income is on the higher side, it may be worth it for you to switch to the new regime. The rebate in the new regime is applicable only if the taxable income is up to 7 lakh rupees. Anything more than that has no benefit of the higher rebate. But whether you should go for the new tax regime or the old one will change on a case-to-case basis.