Confused between Old Tax Regime & New Tax Regime?

In an attempt to rationalize the tax structure in India, Indian Government introduced a new tax regime in 2020 for Individuals and HUF introducing new tax slabs and eliminating various deductions and exemptions. The new tax regime was further amended to provide more benefits by reducing further tax rates and slabs and providing limited benefits like standard deduction, reducing the maximum surcharge rate to 25% (as against 37% under the old tax regime).

In this article, we have tried to provide a comparative analysis of the pros and cons of the old tax regime and the new tax regime.

Trust you will find it an interesting read. You can download the article by clicking here ==> Comparison of Old Tax Regime and New Tax Regime.

(Authors: CA Jinesh Bhagdev & CA Badrinath Sharma )