Your employer just handed you a document called "Form 130" instead of the Form 16 you've seen every year since your first job. Here's why the name changed, what's actually different inside it, and why your tax bill isn't affected at all.
Section 80C is now Section 123. Section 111A is now Section 196. If you've filed taxes in India for a few years, half the section numbers you know by heart just changed. Here's the full cheat sheet — bookmark it.
House Rent Allowance can shave lakhs off your taxable income — but only if you're in the old regime and calculate it correctly. Here's the exact formula.
Lower tax rates, but you give up most deductions. Or higher rates, with 80C, HRA and more still in play. Here's how to actually figure out which regime wins for you.
