Decoding New Tax Regime of Section 115BAC

The Finance Minister Smt. Nirmala Sitharaman on 1st February, 2020 presented her 2nd Budget where a new optional personal tax scheme has been proposed vide a newly inserted section i.e. 115BAC applicable to Individuals and HUF only. The income tax slab rates have been reduced significantly in the new regime. However, in order to opt

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