Salaried employees opting for the old tax regime for FY 2024-25 must submit investment proofs to claim exemptions and deductions. The new tax regime requires no such documentation, allowing only two specific deductions.

With the prime aim of restoring the financial balance between revenues and expenditures in the medium term and reduce the financial deficits in the state’s general budget, the government launched a medium-term plan (2020-2024)