Taxpayers desire tax deduction limit to double under 80C in Budget 2023: Survey3 min read . Updated: 17 Jan 2023, 04:11 PM IST
- In the upcoming budget which will be presented on February 1st, FM Nirmala Sitharaman is expected to announce new measures to bring down the budget deficit to below 5%, however, as per the survey, fiscal prudence was not a top priority for taxpayers.
One of the most expected tax sops in the upcoming budget 2023 will be the tax exemption limit under section 80C of the Income Tax. A survey carried out by a Mumbai-based financial planning start-up revealed that the majority of taxpayers expect to double the tax deduction amount under this section. The survey revealed that taxpayers were more interested in tax benefits than the country's budget deficit.
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