New income tax scheme will help 2/3rd taxpayers save more money

New Income tax Scheme

Union Finance Minister Ms. Niramala Sitharaman in her budget speech stated that the New Tax Regime (NTR) will help taxpayers have more money in their hands than before. The NTR does away with 70 of the 120 deductions which were in the erstwhile tax regime. It was said that the old tax regime in a way forced taxpayers to save more money for curtailing their tax liability.  The revenue secretary Mr. Ajay Bhusan also applauded the NTR and said that he has data analytics to support his zeal for the…

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