New Tax Regime vs Old Tax Regime: An important aspect of opting into the new regime was that once opted in, persons having business/professional income could only opt out of the regime once and thereafter, would be prevented from opting back in.
Old Tax Regime vs New Tax regime: The Union government in Budget 2023 made the New Tax Regime a default choice. If a taxpayer does not choose between the old and new tax regimes, then their taxes will be automatically calculated under the new regime.
Apple s iPhone 11 Pro, iPhone 11 Pro Max, and iPhone 8 has received a price hike in India due to an increase in customs duty on imported mobile phones and chargers along with social welfare surcharge in the Union Budget 2020. The price hike on iPhone 11 Pro, iPhone 11 Pro Max, and iPhone 8 came into effect starting today.
In Union Budget 2020, Finance Minister Nirmala Sitharaman announced record spending in agriculture and infrastructure sectors, slashed income tax for individuals and abolished DDT.