News From Press How the old tax regime serves the double benefit of tax-saving and financial well-being

How the old tax regime serves the double benefit of tax-saving and financial well-being

It is universally accepted that tax breaks on investments nudge people to save more. The new tax regime has taken away the incentive to save. The deductions ensure financial wellbeing of taxpayers. Do you know the role they plan in your financial plan?

ET Apr 20, 2020

When this year’s Budget proposed a new tax regime with lower tax rates, the intent was to give individuals the benefit of a short term cash flow. However, the new tax regime does not allow most of the tax exemptions and deductions that taxpayers usually claim to meet the family’s financial needs.

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