Income Tax OLD Scheme Vs NEW Scheme Income Tax Slab Rates Tax Calculation for FY 2020-21 Sec 115BAC
Income Tax Old Scheme vs New Scheme Comparison has been laid down in this video. For FY 2020 -21 onwards a new income tax scheme is launched through union budget by inserting Section 115BAC. This scheme provides that the individual taxpayers shall have the option to choose new scheme for lower tax slab rates. But this is optional subject to satisfaction of conditions laid down in sub section 2 of section 115BAC which disallows taxpayer to claim specified deductions and exemptions.
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