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Union Budget 2023: Allow deductions, hike threshold for levying peak 30% tax to make optional tax regime attractive: Experts

Investments in PPF and other tax savings schemes should be allowed as deductions, and the threshold for 30 per cent tax should be raised to Rs 20 lakh under the concessional income tax regime in Budget 2023-24 to make it attractive for middle-income taxpayers, says experts. ....

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What You Can Do If You've Missed Deadline To File Income-Tax Returns

At least 50 lakh taxpayers are estimated to have missed the deadline to file their personal income-tax returns for AY 2022-23 (FY21-22).

The last day for filing ITRs was midnight July 31, with no updates on a deadline extension. ....

Amarpals Chadha , Institute Of Chartered Accountants India , Chartered Accountants ,