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                              casino games that pay,india no deposit codes 2021,ace three,Opting for the new tax regime? Know income tax slabs, rates and other details

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                                        ET Now Digital

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                                            • Updated Apr 03, 2021 | 07:53 IST

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                                                                            Opting for the new tax regime? Know income tax slabs, rates and other details 

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                                                                                        New Delhi: In last year's budget, Finance minister Nirmala Sitraman announced a new tax regime with more tax slabs and lower tax rates. This was long demanded by most taxpayers. FM Sitharaman had then claimed that it would reduce the amount of tax paid. The idea would be appealing to those undergoing a cash crunch due to the ongoing covid-19 crisis.

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                                                                                            The taxpayer opting for concessional rates in the New Tax regime will have to forgo certain exemptions and deductions available in the existing old tax regime.

                                                                                            Opting for new tax regime?

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                                                                                              2. The new tax regime offers lower slab rates but doesn’t allow availing of deductions and exemptions. Though most of you would have already chosen between the old and new tax regimes, some companies allow you to switch at the beginning of each month.