Disallowed Deductions / Exemptions under New Income Tax Regime

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Posted By Munimji Training and Placement Academy on 15-03-20
Disallowed Deductions / Exemptions under New Income Tax Regime

The Budget 2020 has introduced a new Income Tax structure having six different slab rates. The current tax slab rates will also remain in place. This move will make tax structure more complex. If the tax payers wish to avail new structure, he/she will not be able to avail benefit of many of the deductions and exemptions available at present in old tax structure.The removal of tax exemptions and deductions certainly makes compliance less tedious, but tax planners who maximized their tax deductions will probably pay more tax under the new tax regime.

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Disallowed Deductions / Exemptions under New Income Tax Regime

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