new income tax regime

Under the new tax regime, taxpayers can avail lower tax rates if they are willing to forego exemptions The government has now brought in amendments to the Finance Bill 2023, which has given 'marginal relief' to those taxpayers with annual…

The increase in the tax rebate cap from 5 to 7 lakh will aid individuals with income under 7 lakh to qualify for exemptions. The new income tax regime will take over as the primary tax regime on April 1, 2023. Tax assessors will still have…

As is the case with each financial year (FY), the upcoming FY (2023-24) will also begin on April 1. The announcements made by finance minister Nirmala Sitharaman in the annual Feb 1 budget, too, will come into effect as part of the new…

Edited By: Mohammad HarisLast Updated: February 13, 2023, 10:42 ISTFM Nirmala Sitharaman in her Budget 2023 has focused on making the new tax regime more attractive.Though the old regime offers a large number of deductions like 80C, 80D and…

Last Updated: February 03, 2023, 11:54 ISTWhether people see any key benefits in the 2023 Budget, 49% expressed optimism that it will create 'new infrastructure' while 33% said it will boost household spending, employment and livelihood.…

Last Updated: February 04, 2023, 10:35 ISTThough the new tax regime will now become the default tax regime in 2023-24, taxpayers will still have the choice to opt for the old one.ChatGPT Response On Income Tax Regimes: Here's what OpenAI's…

File picture of Union Finance Minister Nirmala Sitharaman with Nitin Gupta, Chairman, Central Board of Direct Taxes | Photo Credit: Vedhan M. The new income tax regime for filing returns has been "sweetened" in the Budget 2023-24 and it…

…

Read moreUnion Budget 2023-24: The Budget for the financial year 2023-24 will be presented after two days on February 1. The Budget is expected to announce relief to the middle class and different sectors of the economy. The Budget 2023…

Budget 2023: Every year the common man looks at the Union Budget to provide relief on the income tax front. Finance Minister Nirmala Sitharaman is expected to present India Budget 2023-24 on February 1. Since this will be the last full…