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INTERNATIONAL Center FOR DISEASE INFORMATICS AND RESEARCH Bengaluru Proforma for Computation of Income Tax for the Financial Year ___ (Assessment Year ___) OPTION EXERCISED: OLD TAX REGIME 1)NAME
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How to fill out old tax regime vs

01
Ensure you meet the eligibility criteria to opt for the old tax regime.
02
Calculate your total income for the financial year.
03
Choose the appropriate tax slab under the old tax regime based on your income.
04
Fill out the income details, deductions, and exemptions in the ITR form applicable for the old tax regime.
05
Provide accurate information and submit the filled-out form before the deadline.

Who needs old tax regime vs?

01
Individuals who prefer simplicity in tax calculation and do not want to claim deductions and exemptions.
02
Taxpayers with a lower income who benefit more from the lower tax slabs of the old regime.
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People who find it easier to manage their finances without the complexities of deductions and exemptions in the new tax regime.
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Old tax regime refers to the previous tax system that was in place before the introduction of the new tax regime.
Individuals and businesses who were under the old tax regime are required to file their taxes using the old system.
To fill out the old tax regime, you will need to use the forms and guidelines provided by the tax authorities for the previous tax system.
The purpose of the old tax regime was to collect taxes from individuals and businesses based on the previous tax laws and regulations.
You must report all income, deductions, credits, and other relevant information required by the previous tax system.
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