New tax regime: alternative slab structure with restricted deductions and specific opt in and surcharge rules. The new tax regime prescribes alternative slab rates for individuals and HUFs, retains special rates for specified capital gains and dividends, applies tiered surcharge rules with a fixed health and education cess, and disallows a broad set of salary, house property and business-related deductions and exemptions. AMT is not applicable and AMT credits cannot be set off; opt-in/withdrawal rules differ for salaried and business taxpayers and employers must act on employee intimation for TDS computation. Rebate provisions for lower-income taxpayers continue under adjusted rules.