Still confused on which Income Tax 2020 regime you should opt for?? Relax, you are not the only one.
In the annual budget for 2020 announced on 1 Feb 2020, finance minister Nirmala Sitharaman said that taxpayers, should they choose to forego all exemptions, will now pay across six tax slabs, as opposed to three slabs earlier. While this is easy it to say that for some people the new tax regime will be better, the fact is it depends on the how much you want to invest vs how much you want to spend.
Just to make your life and decision easier, here we go with an Excel powered Income Tax 2020 Regime Decision Maker. You can simply enter your annual salary and deductions and the calculator will let you know which income tax regime is better for you. So Go ahead and try it!
Hope this post helps you in your financial planning. Good Luck!