Deductions under Income Tax Act

• November 24, 2020
• CA Chandan Agarwal's Office

Although, a New tax structure is introduced for the individual taxpayers from F.Y 2020-21 onwards with a lower tax slabs, broadly famous as “New Personal Income Tax Regime” or “New Tax Regime” under which individual can pay lower taxes if they forego their deductions & exemptions. Since the tax regime is optional & assessee can choose between the old & new Tax Regime. If you are going with the Old Tax Regime, confusion for which investment to be made for claiming Deduction under Chapter VIA is very common.

In this article, an attempt is made to address the taxpayer’s most asked Question What are the Investments that I can made for claiming Tax Relief?

Read more on: https://taxguru.in/income-tax/deductions-income-tax-act.html