The Union Budget 2020 introduced a new personal tax regime in addition to the existing Old Tax Regime for individual taxpayers. However, the New Tax Regime is optional. To put it simply, the assessee can choose between the New Tax Regime and the Old Tax Regime depending on what is best suitable from a tax planning point of view. The Income Tax Department has provided help for making a comparison between old and new tax regime and  is available on the website: https://www.incometaxindiaefiling.gov.in/Tax_Calculator/index.html?lang=eng  where you can input the total income (before exemptions and deductions) and the total exemptions and deductions separately […]