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Tax Rebate Budget 2023
Tax Rebate Budget 2023 -
A tax rebate on an income of Rs 7 lakh has been introduced in the new tax regime applicable for FY 2023 24 Rebate under Section 87A helps taxpayers to reduce their income tax liability You can claim the said rebate if your total income i e after Chapter VIA deductions does not exceed Rs 5 lakh under the old regime in FY 2023 24 Your
As part of its Budget 2023 announcement Finance Minister Nirmala Sitharaman said that the tax rebate has been extended on income up to Rs 7 lakh in new tax regime as per Section 87A as against Rs 5 lakh The highest surcharge rate has been reduced to 25 percent from 37 percent in the new slab FM said
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Budget 2023 Summary Of Direct Tax Proposals
Budget 2023 Summary Of Direct Tax Proposals
Put simply only those with an annual income of up to Rs 7 lakh under the new tax regime will benefit from the proposal as they will get a 100 per cent rebate on their tax liability On the other hand those with incomes over Rs 7 lakh will have to pay tax as per the slabs of the new tax regime
The Section 87A rebate has been increased under the new tax regime for taxable incomes up to Rs 7 lakh Individuals with taxable income of less than Rs 7 lakh will not have to pay any taxes if they choose the new tax regime in FY 2023 24 Any changes were made in the old tax regime for FY 2023 24
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Tax Rebate Budget Approved News At 08 00 February 22 2023
Tax Rebate Budget Approved News At 08 00 February 22 2023
What s new in the new income tax regime Basic exemption limit is hiked to 3 lakh from 2 5 currently under the new income tax regime in Budget 2023 24 Rebate under Section 87A
In Budget 2023 a tax rebate on an income up to 7 lakhs was introduced under the new tax regime This means that taxpayers with an income of up to 7 lakhs will not have to pay any tax at all if they opt for the new tax regime
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https://www.cnbctv18.com/personal-finance/budget...
As part of its Budget 2023 announcement Finance Minister Nirmala Sitharaman said that the tax rebate has been extended on income up to Rs 7 lakh in new tax regime as per Section 87A as against Rs 5 lakh The highest surcharge rate has been reduced to 25 percent from 37 percent in the new slab FM said
https://cleartax.in/s/budget-2023-highlights
Tax rebate on an income of up to 7 lakhs has been introduced under the new tax regime This means that taxpayers with an income of up to 7 lakhs will not have to pay any tax at all Standard deduction Salary income 50 000 standard deduction under the new tax regime as well Effectively 7 5 lakhs is your tax free income under the new
As part of its Budget 2023 announcement Finance Minister Nirmala Sitharaman said that the tax rebate has been extended on income up to Rs 7 lakh in new tax regime as per Section 87A as against Rs 5 lakh The highest surcharge rate has been reduced to 25 percent from 37 percent in the new slab FM said
Tax rebate on an income of up to 7 lakhs has been introduced under the new tax regime This means that taxpayers with an income of up to 7 lakhs will not have to pay any tax at all Standard deduction Salary income 50 000 standard deduction under the new tax regime as well Effectively 7 5 lakhs is your tax free income under the new
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