Since the Centre made the New Tax Regime the default tax system in 2023, there has been many reports on which tax system is better and what to choose. The government introduced a new tax regime, known as Section 115BAC, as an alternative to the old tax regime. This new regime was optional and started … Read more
The new financial year will start tomorrow and the investors will get another chance to review their investments and opt a suitable tax regime. There are various investment tools that are accepted under both tax regimes. Under the Old Tax Regime, numerous tax deductions and exemptions are offered under different sections of the Income Tax … Read more
New Tax Regime: The Centre introduced the New Tax Regime under Section 115BAC as a new optional alternative to the Old Tax Regime from April 1, 2020 (FY 2020-21) for individuals and the Hindu undivided family (HUF). But after three years, Union Finance Minister Nirmala Sitharaman during the Union Budget 2023 announced that the New … Read more