Budget 2023: Income Tax Rebate Limit Increased To Rs 7 Lakh From Rs 5 Lakh Under New Tax Regime

Team Latestly Feb 01, 2023 03:46 PM IST

On February 1, Finance Minister Nirmala Sitharaman announced that no income tax will be payable on income of Rs 7 lakh in the new tax regime. It was Rs 5 lakh earlier. FM Sitharaman said the New Tax Regime will be considered the default regime. However, the Old Tax Regime will be operational. Watch the video to know more.

(The above story first appeared on LatestLY on Feb 01, 2023 03:46 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

Tags

Budget Budget 2023 Budget 2023 highlight Budget 2023 Updates budget tax slabs 2023 Income Tax Income Tax Budget 2023 Income Tax Slab India Budget 2023 Highlights new budget 2023 income tax slabs New Income Tax Regime New Tax Regime New Tax Regime Explained Personal Income Tax Union Budget 2023

Follow us on News

You Might Also Like

Income Tax Department Extends IT Returns Filing Deadline for Corporates by 15 Days Till November 15

India Sees 74% Drop in Income Disparity Since AY15, Direct Tax Collection Highest in 14 Years

Form 12BAA To Reduce TDS From Salary: All About the New Form That Will Help Salaried Employees To Cut Tax Deduction From Salaries

‘Jigra’ Box Office Verdict – Hit or Flop: 5 Reasons Why Alia Bhatt’s Prison-Break Thriller Had a Tepid Opening Weekend

Categories