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the new tax regime would not be able to avail common tax breaks such deductions under section c for maximum of rs lakh by investing in specified instruments, section d for medical insurance paid, house rent allowance, leave travel allowance etc. also read: exemptions that you lose out in new tax regime
on the other hand, individuals opting for the existing tax regime will continue to pay tax on their income in fy - same as fy - . these tax proposals will come into effect from april , , once these are passed by the parliament. abhishek soni, ceo, tax win.in, an itr filing website says, "if senior citizens...
https://economictimes.indiatimes.com/wealth/tax/latest-income-tax-slabs/articleshow/62751981.cms