The budget 2020 presented by the Finance Minister brought about one of the most unexpected changes. The taxpayers now have the option to choose between the old and the new tax regime.
Of course, there was going to be a catch. The catch is that whilst opting for the new tax regime, you would be letting go of several notable deductions such as chapter VIA deductions - ELSS investments, medical insurance premiums, etc.
Here is what is covered under the New Tax Regime and what isn’t -
Let us know below if you have any queries regarding Old vs New Tax Regime and we will answer them all!