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Make an evidence-based choice between the old and new income tax regimes

Those who can cross certain thresholds of deduction will be better off sticking to the old regime

Sanjay Kumar Singh & Bindisha Sarang  |  New Delhi/Mumbai 

An account specialist with a Mumbai-based advertising agency, who did not wish to be named, aims to buy a house in the city in the future. She is in her thirties and currently earns a salary of Rs 6.05 lakh.

Since she is keen to avail of all possible tax deductions, she is reluctant to move to the new concessional tax regime ushered in by the finance minister in Budget 2020. Nonetheless, she is eager to learn which regime – the old one with higher tax rates, or the new one with lower rates but without deductions – would be the smarter choice for her. A simpler regime: The ...

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First Published: Fri, February 21 2020. 15:09 IST
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