| Old Regime (with deductions) | New Regime (default from FY 2023-24, lower rates, no most deductions) | |------------------------------|----------------------------------------------------------------------| | Up to ₹2.5L – Nil | Up to ₹3L – Nil | | ₹2.5L-5L – 5% | ₹3L-6L – 5% | | ₹5L-10L – 20% | ₹6L-9L – 10% | | >₹10L – 30% | ₹9L-12L – 15%, ₹12L-15L – 20%, >₹15L – 30% |
Start with the summary sections provided at the beginning of each chapter. The authors do an excellent job of condensing complex sections into "Overview" boxes. Do not skip the definitions. | Old Regime (with deductions) | New Regime
This is the core of the book. For Income Tax (particularly heads like "Salaries This is the core of the book
Before diving into the book itself, it is vital to understand the context. Indian taxation is currently undergoing a paradigm shift. With the introduction of the New Tax Regime under the Finance Act, constant amendments to GST compliance procedures, and the phasing out of old exemptions, students are often left confused. Relying on outdated notes or scattered internet resources is a recipe for disaster. With the introduction of the New Tax Regime
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