New tax v/s old Tax Scheme

Last updated: 12 May 2021
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This document provides a clear comparison between the new and old tax schemes under the Income Tax Act. It details the tax slabs for individuals below 60 and between 60-80 years of age, outlining the tax rates and calculations for each. The guide also highlights the significant differences in deductions allowed under Chapter VI-A and from salary, as well as the rebate available under Section 87A. This information is crucial for individuals seeking to understand their tax liabilities and make informed decisions about which tax scheme best suits them.

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It describes which one should follow for F.Y. 21-22 #docx
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Submitted by · Posted 12 May 2021 · Other files by prerna · Report
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