Executive Summary: This Article authored by our Founder Shri Mayank Mohanka, FCA, contains an indepth Break-Even Point Analysis, working out the exact amount of Deductions which are needed to be claimed in the Old Regime, at different levels of Incomes, to Break Even with the Reduced Tax liability in the New Regime, in the case of Salaried Class, Professionals & Businessmen, Rental Income Earners, Dividend/Interest Earners. This Article also contains Practical Case Studies on making an Optimum Choice between the Old and the New Personal Tax Regime, both by the Salaried Class as well as by the Professionals.

"Among the total 122 tax laws amendments proposed in the Union Budget 2023, five budget announcements in respect of Personal Taxation ha.