Many of us have completed the computation form(ie, computation statement of income tax for the assessment year2020-2021) and submitted it to the specified office. But some of us may be wrong. Today I will discuss the possible mistakes. 1. We can use old or new income tax slabs. If we use the new income tax slab, the following deductions will not be available. (i) Leave travel concession as contained in clause (5) of section 10; (ii) House rent allowance as contained in clause (13A) of section 10; (iii) Some of the allowance as contained in clause (14) of section 10; (iv) Allowances to MPs/MLAs as contained in clause (17) of section 10; (v) Allowance for income of minor as contained in clause (32) of section 10; (vi) Exemption for SEZ unit contained in section 10AA; (vii) Standard deduction, deduction for entertainment allowance and employment/professional tax as contained in section 16; (viii) Interest under section 24 in respect of self-occupied or...