Today we will be highlighting the important points from the budget 2023 that would be most relevant for the salaried people.
1. There is no change in the old tax regime.
So first thing to know is that the old tax slabs remain unchanged. The slabs are same like last year which are as follows
2. New tax regime tax slabs made more attractive
The taxation slabs got better in the new tax regime, which are as follows. The taxation got better for middle class and all the people who will choose new tax slabs will pay lower tax. Here are the new and previous slabs
3. Standard Deduction of Rs 50,000 in New Tax Regime
Earliar, the standard deduction of 50,000 was available only for the old tax slab, but in this budget its also extended to the new tax regime. Which means that one can directly reduce their income by 50,000 before finding the taxable salary.
4. No Tax up to Rs 7 lacs income under new tax regime
Its…
