Showing posts with label Tax Calculator for F.Y. 2020-21. Show all posts
Showing posts with label Tax Calculator for F.Y. 2020-21. Show all posts
Tuesday 1 September 2020
During the Financial plan 2020 speech, the Account Pastor Nirmala
Sitharaman reported the inclusion of a new section called 115BAC into the
Income Tax Act in the Association Spending plan 2020. Section 115 BAC,
successful from FY 2020-21, manages the new and discretionary income tax regime
for people and Hindu Unified Families (HUFs). Let us understand the new piece
rates, qualification rules for the new regime and the deductions that are
permitted or prohibited under Section 115BAC.
