New Tax Computation Regime (Sec 115BAC) – Some FAQs
Applicability of the New Tax Regime The new tax regime introduced in budget of 2020 under section 115BAC shall be applicable as follows: Effective from AY 21-22 i.e. FY 20-21 The section covers Individual/HUF Both residents and non-residents are covered No special slabs are mentioned for senior /super senior citizens Rates Applicable under the New…