Union Budget 2023 : FM Announces New Income Tax Rates; Slabs Reduced To 5, Exemption Raised To Rs 3 Lakhs In New Regime

In her Budget 2023-24 speech, Union Finance Minister Nirmala Sitharaman has announced that the increase in the income tax rebate limit from Rs. 5 Lakhs To Rs. 7 Lakhs in the new tax regime.For the middle class person, the proposal under the new income tax regime has been a huge relief. This would mean that an individual with an annual income of up to Rs 7 lakh will not be required to pay...