For the financial year 2020-2021, every individual has the option either to continue with existing tax rate where exemptions and deductions can be claimed or to opt out for new tax regime where the rates are lower but there are no exemptions or deduction.
Which one is better?
There is no single answer to this. It depends upon the various things. Like your salary and investments.
Comparison of new income tax regime with old tax regime: Please go through the image for comparison
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