Year: 2026
Type: article
Abstract: The Union Budget 2020-21 introduced an optional personal income-tax structure alongside the existing regime. Taxpayers were therefore allowed to choose between the old system, which retained several exemptions and deductions, and the new system, which offered comparatively lower slab rates but withdrew most of those concessions. Under the old regime, eligible taxpayers could continue to claim benefits such as House Rent Allowance, Leave Travel Allowance and deductions available under the Income-tax Act, 1961.
Authors: MD Nisar Ahmed, Pavan Kumar S S
Institution: Ballari Institute of Technology & Management
Language: English
Topic: Economic and Fiscal Studies
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7203712227
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