Why the new income tax regime has limited appeal?5 min read . Updated: 08 Feb 2023, 01:01 AM IST
- Claiming deductions above a certain limit makes the old regime sweeter for some taxpayers
- Experts say taxpayers under the new tax regime can have better control over their investments
Ever since the finance minister presented the budget on 1 February, most investors have been trying to figure out whether they should shift from the old income tax regime to the new one. Shubham Asawa, 29, though, was quick to calculate his tax liability under the new tax slabs proposed in the concessional regime. “The reduced tax rates look quite lucrative. But, after considering the deductions and exemptions that I claim, I will still benefit under the old tax regime," he said.
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