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Tag: Section 115BAC

Income Tax

Section 115BAC: Relief for Salaried employees opting the above section

Posted on June 30, 2020June 30, 2020
Section 115BAC of Income Tax Act, 1962

During the Budget 2020 speech, the Finance Minister Nirmala Sitharaman announced the insertion of a new section called 115BAC into the Income Tax Act in the Union Budget 2020. Section 115 BAC, effective from FY 2020-21, deals with the new and optional income tax regime for individuals and Hindu Undivided Families (HUFs). Let us understand […]

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