ld Tax Regime V/S New Tax Regime
In the budget 2020, our Finance Minister,Mrs Nirmala Sitharaman introduced a new taxation regime giving individuals to choose between the old or the new tax regime. This has become a talking point among many. Have you also, as a tax payer wondered which tax regime should you opt for? Well, to help our clients, We at Right Value Service,have come up with Tax Planning services, which shall help you understand the tax impact between both old regime & new regime, and which method you should opt for, thus minimizing your taxes to the extent possible.
To begin with, we would like to present the key points of differences between the two regimes. For ease of understanding we have divided the whole thing into 5 parts which are:
1. Tax Rates
2. Changes in Deductions
3. Deductions that remain the same
4. Surcharge
5. Cess
Conclusion :
As they say “ Tax and death are inevitable.”One can’t prolong life, but can reduce taxes. Protecting income earned, is as important as earning. Tax planning helps you in reducing your tax liability. To avail our services and get your tax planning done, revert on this mail or connect with us. We would be happy to help.