In the 2020 budget,
Finance Minister Nirmala Sitraman announced a new tax system to further
reduce tariffs and tax rates. It has long been claimed by most
taxpayers, but it took up the issue of removing all available exemptions
and exemptions.
If
you Opt-in Old Tax Regime then you can get the Tax Exemptions.
Important for tax planning. It reduces the tax burden of an assessee. Let's
take a look at important deductions in Income tax F.Y. 2020-21 and A.Y.
2021-22. Or if you Opt-in as New Tax Regime, then you can not avail the
below all Exemptions.
