Here's how the new Income Tax regime will affect you
Shortpedia
Content Team
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Finance Minister Nirmala Sitharaman today significantly brought down the personal income tax slabs in her second Union Budget. The lower slabs will be applicable only for those who forego reliefs and all other exemptions. In a nutshell, the new income tax regime will be optional. If an individual does not want to forego exemptions and other reliefs, then the income tax slabs that have been in effect so far will be applicable.
