Budget2023

Full list of new tax slabs for new income tax regime 2023-24

Income Tax slab 2023-2024 details and highlights: New income tax regime has seen a major revamp in the income tax slab rates for 2023-24. The basic exemption limit under the new income tax regime has been hiked to Rs 3 lakh. The income tax rebate  limit available for salaried and individual taxpayers under the new income …

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PM Modi’s big announcement after the budget

This budget will bring a big change Preference has been given to the underprivileged in the budget Special savings scheme being launched for women Is Budget that meets the expectations of the middle class It takes care of the village, the poor and the farmer To promote digital agriculture 10 lakh crore will be invested …

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Expected Impact of Budget 2023 on Personal Tax

Expected Impact of Budget 2023 on Personal Tax: There are more than 80 million taxpayers in India, and salaried employees are the biggest contributors to taxes. The following are the expectations on the personal tax space from the FM: 1. Changes in Valuation u/s 17(2) of Company Owned Accommodation – The taxable value of residential accommodation owned by a …

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Rationalised TDS framework, revamped IT regime expected in Budget from Centre

Government is expected provide a more rationalised TDS framework to reduce the compliance burden for taxpayers, besides a revamped new concessional tax regime by providing additional benefits like standard deduction, EY said on Sunday. The Budget wishlist of EY also highlights that the government should provide some respite to low- and mid-income taxpayers with annual income up …

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Bill for tighter audit framework

The Reserve Bank of India had in 2021 made it mandatory for financial institutions having asset size of Rs 15,000 crore or more to undertake joint audits. Government is likely to implement phased roll-out for mandatory joint audit of companies, starting with “public interest entities” and large listed companies soon. The proposal, aimed at tightening …

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New income tax regime could get some fresh tweaks in the upcoming Union Budget 2023

The new income tax regime introduced by the central government over two years ago could get a fresh makeover in the upcoming Union Budget 2023 to attract more taxpayers. A majority of salaried taxpayers have steered clear of the optional tax regime despite lower tax rates as they are not eligible to opt for around …

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Govt Inviting your Ideas and Suggestions for Union Budget 2023-2024

To foster the spirit of ‘Jan Bhagidari’ , the Department of Economic Affairs, Ministry of Finance invites suggestions from citizens every year, to make the Budget-making process participative and inclusive. The Ministry looks forward to your ideas and suggestions for the Union Budget 2023-2024, Please share your ideas and suggestions that can help transform India …

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