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  • Budget Updates 2023 PDF

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    mohit Pathak
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    The document outlines the key changes to India's tax regime in Budget 2023, including introducing a new default tax regime with no tax on income up to Rs. 3 lakh and a maximum surcharge of 25%, as well as retaining the old tax regime as an option with a standard deduction and higher income thresholds for tax slabs.

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    The document outlines the key changes to India's tax regime in Budget 2023, including introducing a new default tax regime with no tax on income up to Rs. 3 lakh and a maximum surcharge of 25%, as well as retaining the old tax regime as an option with a standard deduction and higher income thresholds for tax slabs.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views4 pages

    Budget Updates 2023 PDF

    Uploaded by

    mohit Pathak
    The document outlines the key changes to India's tax regime in Budget 2023, including introducing a new default tax regime with no tax on income up to Rs. 3 lakh and a maximum surcharge of 25%, as well as retaining the old tax regime as an option with a standard deduction and higher income thresholds for tax slabs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 4

    Tax updates as per

    new Budget 2023


    Announcements
    New Tax Regime
    ● Default Tax Regime
    ● No Tax on income upto 3,00,000 (3 Lac)
    ● Maximum Surcharge restricted to 25% from existing 37%

    3,00,001 to 6,00,000 5%
    6,00,001 to 9,00,000 10%
    9,00,001 to 12,00,000 15%
    12,00,001 to 15,00,000 20%
    Above 15,00,000 30%
    Old Tax Regime
    ● Option to choose
    ● No Tax on income upto 2,50,000 (Not 3 Lac)
    ● Standard deduction 52,500 if income is up to 15,50,000

    2,50,001 to 5,00,000 5%
    5,00,001 to 7,50,000 10%
    7,50,001 to 10,00,000 15%
    10,00,001 to 12,50,000 20%
    12,50,001 to 15,00,000 25%
    Above 15,00,000 30%
    Other Relevant Updates

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