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From April 1, 2023, the new tax regime will be the default regime if a taxpayer fails to note which of the two regimes, old or new, she or he would opt for to file income tax return.
New income tax rule changes from 1 April: Let's take a look at the new tax rules effective from the next financial year
According to the announcement made by finance minister Nirmala Sitharaman in her annual budget speech on February 1, the new tax regime will be the default system to file returns under.
What do you know about tax deductions? In GOBankingRates' 2023 taxes survey polling 1,002 Americans, 30% of overall respondents said the number of deductions, or tax allowances they could claim, was...
It is significant to note that if a taxpayer chooses the new tax system, they will not be able to take advantage of deductions like Section 80C, Section 80D, and others.