Like every year in this year also, I will be discussing How to calculate Income Tax for the FY 2023-24 and AY 2024-25 using the Income Tax Calculator Excel Download tool. the new tax regime where there is no room for 80C deductions apart from the NPS and Standards deductions. Undoubtedly, in the coming years we could see only one tax regime i.e. It is quite evident that we are moving toward consumption based economy, where people are being pushed to incur expenses more rather than savings and the Finance Budget 2023 is the classic example of this.Īs far as the salaried employees are concerned, Budget 2023 has not been very much exciting apart from getting higher Income Tax rebate U/S 87A, Standard deduction in the new tax regime and the unlimited deduction for Agniveer Contribution.īut the vision is very much clear that we are moving very fast towards the new tax regime permanently, which has now been declared as the default one. But what do experts say about Tax deductions? Certainly, the new tax rebate limit U/S 87A has brought a wide smile to the face of many tax payers. HAs this budget been able to meet the expectations of the tax payers?Įxperts are saying that this budget has been prepared to keep in mind the sole interests of the middle and lower-middle-income groups of people. Fiscal Budget 2023: Finally, our waiting comes to an end and Budget 2023 has been introduced by our honourable Finance Minister of India.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |