https://www.taxtmi.com/news?id=27422 The Finance Act 2023 introduced the new tax regime under section 115BAC(1A) as the default regime for non-corporate taxpayers from FY 2023-24, offering lower slab rates but excluding most exemptions and deductions except specified standard deductions; taxpayers may opt out and choose the old regime until filing their return, and eligible non-business taxpayers can elect regimes year by year. en-us Mon, 01 Apr 2024 09:49:22 +0530 Mon, 01 Apr 2024 09:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27422 The Finance Act 2023 introduced the new tax regime under section 115BAC(1A) as the default regime for non-corporate taxpayers from FY 2023-24, offering lower slab rates but excluding most exemptions and deductions except specified standard deductions; taxpayers may opt out and choose the old regime until filing their return, and eligible non-business taxpayers can elect regimes year by year. News - Mon, 01 Apr 2024 09:49:22 +0530 https://www.taxtmi.com/news?id=27422