Budget: Does the old tax regime exists? How common citizens tax rates will change5 min read . Updated: 01 Feb 2023, 03:23 PM IST
- New benefits in personal income tax regime was the showstopper in this Budget 2023. The new regime is most likely to boost consumption and give more money in the hands of a salaried individuals.
Budget 2023 comes with a slew of benefits for common citizens who are taxpayers. The new tax regime has been announced as a default tax regime with a host of benefits. Under the new regime, Finance Minister Sitharaman extended the tax exemption limit to ₹3 lakh, while introducing new tax rates. Also, she extended the benefits under standard deduction. But does that mean the old tax regime has ended.?
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