Make The Wise Decision By Learning The Difference Between New & Old Tax Regime In India
March 25, 2022 ⚊ 1 Min read ⚊ Views 117 ⚊ OTHER
Effective from April 1, 2020 in India, an individual salaried taxpayer has been given the option to continue with the old tax regime and avail deductions/tax exemptions such section 80C, 80D deductions, HRA, LTA tax exemptions etc. or to opt for the new tax regime and forgoing approximately 70 deductions and tax exemptions. The new tax regime offers lower tax rates as compared to the old tax regime. The new tax regime is different in two ways from the old one. Firstly, it has more slabs with lower tax rates.
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