Budget 2021: Govt. may introduce new tax regime

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Mumbai, 27/1 (AO Bureau): The most keenly concerned about the budget is the taxpayers. Before presenting the budget for every financial year (Budget 2021), the demand for income tax exemption intensifies. According to the exclusive information received by CNBC-Awaaz, the government can make major changes in both new and old regimes. A budget can be announced to make the new regime more attractive. Also, the new regime slab can be changed to give more discounts.

According to CNBC-Awaaz, taxpayers can save up to 50,000-80,000 in income tax liability. Two announcements can be seen during the budget, the first of which is under the old system of income tax, which is called the Old Regime, and the second under the new system.

These changes can happen in the new regime
Last year, the government launched a new regime. In this regime, some changes in slab rates are possible, which can make it more attractive. It is expected to keep the slab rates in such a way that people leave the old system and adopt the new system. This will give income tax exemption.

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