Title: TAX IS A GAME CHANGER? – A CASE STUDY ON MAJOR REFORMSINPERSONAL INCOME FINANCIAL YEAR 2021:
Abstract: One among the most preferred subjects as per the Budget is the tax scenario in accordance with the Indian Tax laws. With a slew of measures to boost the Indian economy and to improve revenue to the government, Finance minister, Nirmala Sitharaman introduced an optional personal income tax regime with the intention to simplify income-tax filing and reduce the tax burden on individual taxpayers. The finance minister introduced an optional personal income tax regime with the intention to simplify income-tax filing and reduce the tax burden on individual taxpayers. Under the proposed new personal tax regime, this paper discuss about some cases of an individual taxpayer can opt to forego defined exemptions and deductions and pay taxes at lower tax rates.
Publication Year: 2020
Publication Date: 2020-03-11
Language: en
Type: article
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