Union Budget 2023 India: Check out latest news and updates on budget 2023, know budget announcements, budget impact on share market, income tax slab by Finance Minister Nirmala Sitharaman at Business Today
"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.
From April 1, 2023, the new tax regime will be the default regime if a taxpayer fails to note which of the two regimes, old or new, she or he would opt for to file income tax return. Watch this Business Today Visual Story to check new income tax slabs, new tax rates and other tax rule changes.