How to do Income Tax Calculation for FY 2020-21?
Which Tax Structure to Select?
As per budget 2020, you cannot claim any tax
deduction or exemption if you plan to opt new tax structure. So, as an
individual tax payer if you opt for the new tax regime with reduce tax rate you
need to forgo all tax breaks available today. Fortunately, you have option to
continue with old tax structure. Salaried person can switch between old and new
tax structure.
