I am not make out that how to calculate my income tax calculation for the financial year 2020-21 as per the Budget 2020. I am not sure and not be able to calculate the tax calculation as I am a salaried person. As per the Budget it appears that the any individual who have no other business income and HUF can of opt to previous tax slab as per the FY 2019-20, I am confused about the deduction of income tax section as I am opt in the old tax regime, then which Income Tax Section can I get relief.
Please help me about the matter and also clearly mention that if I opt in old regime, then which tax section can I get relief and also can I get standard deduction Rs. 50,000/-?
CAclubindia
