It was 1st February 2020, when our Honorable Finance Minister Nirmala Sitharaman had presented the Budget 2020 and came up with paradigm shift in the way Individuals are being taxed i.e. NEW TAX REGIME was introduced vide Sections 115BAC and 115BAD of Income Tax Act 1961.
QUESTION IS: Whether this new tax regime is only for Individuals??
ANSWER:As per the budget 2020 speech, apparently it seems to be YES. But the answer is NO. As new tax structure for companies has already been laid during last year in October.
Read on me: https://taxguru.in/income-tax/tax-regime-tax-regime-analysis-calculator.html
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