Dear all,
tds deducted on salaries as per new income tax slab ( without deduction ) . can we file as per old income tax slab ? that means can we claim hra like ??? please clarify.
You can opt for new tax system when employer ask for TDS deduction and at the time of filing of income tax return you can change your tax payment method. there are no deductions or exemptions will be available in the new system. like HRA, LTA, 80C,D,E,G etc under chapter VI A. even you can't claim interest on housing loan if loan has taken for self occupied property. but the same is available in the old system.
but relief under sec 87A is there in the both systems that is if income is below 5 lakhs then you no need to pay tax under both the systems.
CAclubindia
