alleryStart learning →In which Budget was the New Tax Regime announced for individuals and HUFs?
ABudget 2018
BBudget 2020
CBudget 2021
DBudget 2023
Answer & Solution
Correct answer: B. Budget 2020
The regime was announced in Budget 2020 and took effect from financial year 2020-21.
Keep practising Income Tax: Computation under Alternative Tax Regimes
Browse all Income Tax: Computation under Alternative Tax Regimes questions for CA Inter, or explore more Taxation topics.
Related questions
Donations to charity qualify for deduction under which section?Which section allows a deduction for health insurance premium?Interest paid on a student loan is deductible under which section?Which section provides for best judgement assessment?Which section covers scrutiny assessment?The penalty for concealment under section 271(1)(c) ranges overWhat share of tax is the 270A penalty when income is merely under-reported?Misreporting of income under 270A draws a penalty equal to what share of tax?