The new tax regime is available for individuals and HUFs with lower tax rates and zero deductions and exemptions available under various provisions of the Income-tax Act, 1961.
source https://www.caclubindia.com/articles/new-tax-regime-vs-old-tax-regime-section-115bac-income-tax-act-1961-44958.asp
source https://www.caclubindia.com/articles/new-tax-regime-vs-old-tax-regime-section-115bac-income-tax-act-1961-44958.asp
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