It is mandatory for every employee to choose one of the two options ( TDS to be deducted as per NEW TAX SLAB RATE) OR (TDS to be deducted as per OLD TAX SLAB RATE ) So that the tax can be computed and deducted accordingly. This option can be exercised only once in a financial year and cannot be changed within that financial year. Income Tax rate mentioned below as per your Income Range NEW TAX SLAB RATE Income Range Tax Rate Upto Rs. 2,50,000.00 NIL Rs. 2,50,001 to Rs. 5,00,000.00 5% (Tax rebate of Rs. 12,500.00 U/s. 87A is allowed) Rs. 5,00,001.00 to Rs...