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Union Budget 2023 income tax slabs: New tax regime is default, rebate increased from Rs 5 lakh to Rs 7 lakh

"Currently, those with an income of Rs 5 lakhs do not pay any income tax and I proposed to increase the rebate limit to Rs 7 lakhs in the new tax regime," the Finance Minister said while presenting the Budget. ....

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Union Budget 2023: Income Tax Slabs Revised

Budget 2023-24: Union Finance Minister Nirmala Sitharaman announced that the new tax regime will now be the default tax regime. Presenting her fifth Budget 23, "This is the first Budget in Amrit Kaal, " she stated. The Finance Minister while announcing much-awaited Income Tax slabs and rates for salaried employees, she also announced an increase in the income tax rebate limit ....

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Income Tax Slabs Unchanged, But Budget 2021 Has These 6 Tax Related Announcements

Contrary to expectations of middle class, Finance Minister Nirmala Sitharaman did not tweak personal income tax in Budget 2021. ....

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BREAKING: No change in tax slabs, PPF limit, Sec 80C exemption in Budget 2021

No change in tax slabs, PPF limit, Sec 80C exemption in Budget 2021
Budget 2021: No changes in ncome tax slabs, PPF limit, Section 80C exemption were announced by the Finance Minister
Anwesha Madhukalya | February 1, 2021 | Updated 17:03 IST
Budget 2021: No change in income tax slabs
Going against the expectations of salaried class, Finance Minister Nirmala Sitharaman did not announce any major alteration in personal taxation in Budget 2021 . There were no changes in income tax slabs, PPF limit, Section 80C exemption. This comes despite experts asking for increased money in the hands of the salaried class to boost consumption.
The Finance Minister, however, gave some relief to senior citizens. Senior citizens of 75 years and above who only have pension and interest income will not be required to file returns. The Finance Minister also offered relaxation to home buyers by announcing the extension of Rs 1.5 lakh deduction on payment of interest for affordable ....

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Income Tax Slabs May Stay Unchanged, But Govt Likely to Give More Exemptions in Union Budget 2021

»Income Tax Slabs May Stay Unchanged, But Govt Likely to Give More Exemptions in Union Budget 2021
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Income Tax Slabs May Stay Unchanged, But Govt Likely to Give More Exemptions in Union Budget 2021
Finance Minister Nirmala Sitharaman had announced the new concessional income tax regime last year.
The government may reduce the tax burden to push more demand by ensuring more disposable income. This is aimed to be done through tax proposals to incentivise the new tax regime rather than any major overhaul in the income tax slabs.
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The Centre is likely to tweak the list of eligible rebates and exemptions to allow some more categories of financial savings instruments for taxpayers in the optional income tax regime introduced in the Union budget last year. ....

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