New Delhi, June 14 -- Employers are required to ask employees to choose between the old and new tax regimes at the start of the financial year, so they can accurately calculate and deduct TDS from your salary. The tax deducted at source calculation depends the employee's taxable income after considering eligible exemptions and deductions available under the chosen tax regime.

However, if an employee fail to communicate their preference within the time specified by their organisation, the employer will opt for new tax regime as it is the default tax system. This means unless you convey your choice to your employer or declare otherwise, your taxes will be calculated using the new regime's streamlined slabs and lower rates.

Yes. The tax re...