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Showing posts with label how to choose your option as Old & New Tax Regime as per Budget 2020. Show all posts
Showing posts with label how to choose your option as Old & New Tax Regime as per Budget 2020. Show all posts

Monday 27 April 2020


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.