• Dr. Ajit Kumar Baral

Income tax policy changed every year with a view to provide a simplified and user-friendly version of tax structure for every tax payer. Recent changes have been made in-connection with considering new tax regime as default tax regime. This article tries to focus default tax regime structure and its changes with regards to salaried person. The objectives of the study include: - To know the latest changes made on new tax regime, to know the shortcomings and perceptions of salaried person regarding adoption of optional tax regime and to make a comparative study of old and new tax regime. The data is collected from primary source with the help of questionnaire and also some secondary published available sources. The study found that respondents opting old tax regime get the benefits of large varieties of exemptions and deductions which will not only save the tax liabilities but also give a lumpsum steady return. Most of the respondents also suggested that the new tax regime is better than the old tax regime in the matter of paying lower rate of tax.

Default tax regime, Assessee, Exemptions and Deductions, Tax evasion, New tax regime.

"A STUDY ON DEFAULT TAX REGIME WITH SPECIAL REFERENCE TO SALARY INCOME INDIVIDUALS OF KEONJHAR DISTRICT OF ODISHA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 11, page no.f861-f868, November-2024, Available :http://www.jetir.org/papers/JETIR2411598.pdf

"A STUDY ON DEFAULT TAX REGIME WITH SPECIAL REFERENCE TO SALARY INCOME INDIVIDUALS OF KEONJHAR DISTRICT OF ODISHA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 11, page no. ppf861-f868, November-2024, Available at : http://www.jetir.org/papers/JETIR2411598.pdf