Tax undoubtedly is a complex subject. In order to simplify the tax filing process, the government had introduced a new tax regime, reducing tax rates in various slabs. But, it takes away all tax deductions and exemptions available under old tax regime. On the face of it, the arrangement looks attractive. However, if you claim tax deductions against your investment in PPF, ELSS, insurance policies, home loans or children's school tuition fee, you'll be better off in older tax regime. Watch the video to know more about new versus old tax regime.