Old vs New Tax Regime: Which is Better for Salaried Individuals in Chennai?

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The decision between the Old vs New Tax Regime depends on your income level, exemptions, and deductions. In Chennai, where salaried employees often invest in house rent, LIC, and PPF, the old regime can be more beneficial due to its wide range of deductions. However, the new regime offers lower tax rates with no exemptions, which suits those with minimal investments. For professionals with fluctuating incomes, the simplified structure of the new regime might offer better clarity and predictability. Analyze your deductions, compare both tax liabilities, and choose what fits your financial strategy best.

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