Budget 2023 Tax Reforms: How much taxes do you save?
When compared with the old tax regime, income tax rates under the new proposed tax regime are undoubtedly higher, says Aarti Raote of Deloitte India.
When compared with the old tax regime, income tax rates under the new proposed tax regime are undoubtedly higher, says Aarti Raote of Deloitte India.
The new tax regime will be the default one while citizens will have the option to be in the old tax regime that operates on exemptions.
The new concessional tax regime will become attractive for the tax payers if income up to ₹5 lakh annually is exempt from taxation, says EY India.
The petitioner told the high court that the income tax slabs as per the current Finance Act were in conflict with the EWS category cap on annual income.