Income Tax 2020-21: Catalog of deductions excluded in new tax regime under Section 115BAC
For FY 2020-21, Salaried individuals, who have no business income, will have to choose between the existing and new tax regimes u/s 115BAC every financial year, as per their convenience. The new income tax rates are lower compare to old tax rate. However, anyone opting for the new tax regime will have to forego most…