Income Tax Saving Techniques in the FY2024 New Tax Regime
The Finance Minister introduced a new tax regime in the Union Budget of 2020, offering concessional rates with limited deductions. Taxpayers can choose between the old and new regimes, but the latter has lower rates and fewer deductions. Strategies to save taxes include investing in eligible schemes, claiming deductions, and filing returns on time. A comparison tool helps decide the best regime based on individual circumstances.
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