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Old Tax Regime vs New Tax Regime: Here's guide on which tax system to choose if your salary is Rs 80,000

The Finance Act 2023 has made the new tax regime as the default tax regime for FY 2023-24 (AY 2024-25). The taxpayers can switch between the old and the new tax regime on a year-on-year basis.

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'No new change coming in': Finance ministry clears confusion over new tax regime in 6-point note

New tax regime is the default tax regime, however, tax payers can choose the tax regime (old or new) that they think is beneficial to them.

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