Is Finance Ministry mulling to do away with old tax regime? says plans to review exemption-free tax regime to make it more attractive
The Union Budget 2020-21 introduced a new tax regime. Taxpayers were given the option to choose between the old regime with various deductions and exemptions and the new tax regime that offered lower tax rates without exemptions and deductions.
Sources further said that lowering of taxes in the new regime would make the new tax regime more attractive. Pic: Reuters