Which Tax Regime is Better for You? Clearing the Confusion #shorts

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Издатель Feb 11, 2023

Individuals opting to pay tax under the new lower personal income tax regime will have to forgo almost all tax breaks that they were claiming in the old tax structure. The important tax breaks that will not be available under the new tax regime include Section 80C (Investments in PF, NPS, Life insurance premium, home loan principal repayment etc.), Section 80D (medical insurance premium), tax breaks on HRA (House Rent Allowance) and on interest paid on housing loan. Tax breaks for the disabled and for charitable donations will also not be available under new tax regime.

Source: Economic Times - http://bit.ly/3RClBhu

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