Sec 115BAC: New system for calculation of income tax liability of individual and HUF

The Budget 2020 introduced section 115BAC in the Income Tax Act, 1961. The section is applicable for income earned for the periods starting from 01.04.2020 i.e. from the assessment year 2021-2022 this new system (optional) takes effect for the calculation of income tax liability of an individual and HUF.

source https://www.caclubindia.com/articles/sec-115bac-new-system-calculation-income-tax-liability-of-individual-huf-46338.asp