medium10 pts · first answer countsincome-tax

Old vs new tax regime

For individuals, which statement about the new tax regime under Section 115BAC is correct?

A.It allows all deductions available in the old regimeB.It must be chosen by filing a separate form every monthC.It is only for senior citizensD.It is the default regime, with lower slab rates but most deductions like Section 80C and HRA exemption not available

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Old vs new tax regime

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