Tax planning is one of the important decisions for tax payer. Tax planning is legal process and every tax payer has opportunity to reduce income tax liability through tax planning. Finance bill 2020 has made option to pay income tax called new tax regime. Now it becomes essential for tax payer to decide to opt tax regime. A comparison of selection of new tax regime and old tax regime is discussed with considering section 80C and 80 D.

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Keywords: Tax Planning, Tax Regime, Exemption, Deduction, Relief.