Tue, Apr 09, 2024
Since the new tax regime was introduced in the 2020 budget, taxpayers can file their income tax return under one of two tax regimes. When it started, one could select between the old and new tax regimes, but following Budget 2023, the new tax regime has become the default choice. This implies that, as a new taxpayer, the income taxes will be submitted under the new tax regime, unless one opts for the old tax regime.
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