Old & New Income Tax Slabs & Tax Rates for FY 2020-21 are compared with calculation. In Union Budget 2020, new tax slabs are proposed with lower tax rates but all exemptions and deductions will be removed. Income Tax Calculator for FY 2020-21: People will have option to choose between new tax structure without deductions or old tax structure with deductions like Section 80C investments, Loss from house property, HRA exemption etc. In this video, we will see under each tax slab, how much deduction we need to claim to make the old tax slabs more attractive. We will also see what makes New Tax Slabs of FY 2020-21 more attractive.