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Individuals are free to choose which tax regime they want to continue with. The individual is required to choose the income tax return filing. If the taxpayer wishes to continue with the old regime, they are eligible for all the deductions and exemptions. Given below are the income tax slab...
From a financial planning perspective, the seeming implication of a likely rise in future tax rates would be that, given a choice between being taxed on income today or deferring that tax to the future, it makes more sense to be taxed today when taxes are lower than they'll be in the ...