The March 31 deadline for 2022–23 tax-saving investments implies that taxpayers should start their tax planning as soon as they can to prevent a last-minute rush.
A rise in your income means that you will have to pay more taxes. This is the reason why taxpayers always look for different ways to pay a minimum tax on their salary.
In the Union Budget 2023, Finance Minister Nirmala Sitharaman announced significant adjustments to the new income tax regime, including reduced tax rates and a tax rebate on annual income up to ₹7 lakh.