📌 From the current FY 23-24 onwards New regime is the default regime for tax calculation.
📌 I hope most of you got mail from your employer regarding choosing the New regime or old regime for taxation.
📌 Some of you might not received any intimation regarding this, so immediately inform your employer on which regime they need to deduct TDS.
📌 Because once they started deducting TDS in one regime they won't change it in between, only you have the option to change at the time of filing the Income tax return. But until then your money got blocked with the government, which we don't want to happen.
📌 My opinion is to choose the old regime, since most of us having 80C / 80D deductions.
📌 Do calculations on both regimes, choose whichever is beneficial to you.
#incometaxindia #newregime #oldregime #taxplanning
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