New Vs Old Tax Regime : Which Benefits You? Calculate here
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Nirmala Sitharaman announced new income tax slab recently for the financial year 2020 -21. Individual Taxpayer can choose between the old and the new Slab. Budget 2020 has changed income tax slabs and rates for those foregoing exemptions, deductions. The new income tax regime is optional which can help the middle class save taxes and also scrapped dividend distribution tax(DDT).
People who wish to include the exemptions can stick to the old tax regime. Meanwhile, the government has kept cess and surcharge the same. The taxpayers can pick between the old regime and the new regime as per the convenience and benefit received.
Here is our calculator gives similar view on Income tax Calculator. It provides an ideology of approximate calculation of new provisions.