Union Budget 2023 | Key updates on personal income tax

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Finance Minister Nirmala Sitharaman, in the Union Budget 2023-24 presented on Feb. 1, tweaked the slabs to provide some relief to the middle class by announcing that no tax would be levied on annual income of up to ₹7 lakh under the new tax regime.

Here is a list of announcements relating to the Income Tax.

Production: Abhinaya Sriram

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Seriously I donno what is the purpose of laughing (all those laughs captured) before our honourable Finance Minister started saying about the most expected announcement for the middle class. The pain can be realised by Middle class only. Middle class is providing direct and several indirect taxes to run the government. Even salary to the honourable Member of Parliament also and other amenities are from major Middle class pocket

EagleButterfly
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Oxfam recent report-India
1%people hold 40% wealth below 3% people hold remaining half of wealth.
India inequality rank140 .

maharajan
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Once again headline management. No benefits for people above 7.5 lakh income bracket.

Babu_BLR
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No benefits increase in section 80C???

NITIN-yvre
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So, the point of no tax for 7 lakh income is only for those with full 1.5 lakh exemption under 80C, right ?

philips
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Every year budget only benefits richer people, not poor people.
According Global hunger index rank 107/121 out of country.
NITI aayog 2018 report said 22% people still below poverty line.
Recent government data 82crore free under ration shop rice.
Government every 5 year changed but not welfare of people .why reduction of Corporate tax 2019 .already corporate lot of benefits free land and water, electricity exemption under ease of doing business.

maharajan