Section 115 BAC Of Income-Tax Act, 1961: What It Is And Who Can Opt For It?
In Budget 2020, a new section was introduced under the Income-tax Act 1961, effective from FY 2020-21. Section 115BAC or better known as the new tax regime, allows individual taxpayers and Hindu Undivided Families the option to pay their income tax at lower rates. Here are the new changes introduced in this section from this year onwards
In Budget 2020, a new section was introduced under the Income-tax Act 1961, effective from FY 2020-21. Section 115BAC or better known as the new tax regime allows individual taxpayers and Hindu Undivided Families the option to pay their income tax at lower rates. Here are the new changes introduced in this section from this year onwards