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Mysuru's Evening Daily · Since 1978
Vol. XLVIII · No. 134 · Established 1978 · Founded by K.B. Ganapathy
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UNION BUDGET - New Tax Regime: Income Tax rebate limit increased from Rs. 5 lakh to Rs. 7 lakh

New Delhi: Union Finance Minister Nirmala Sitharaman today presented the last full-fledged Union Budget of the Modi Government before nine Assembly elections including Karnataka this year and the 2024 Lok Sabha elections.…

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Published February 1, 2023 · 5 min read
union budget - new tax regime:

New Delhi: Union Finance Minister Nirmala Sitharaman today presented the last full-fledged Union Budget of the Modi Government before nine Assembly elections including Karnataka this year and the 2024 Lok Sabha elections.

The main highlight of the Budget is a new tax regime where the Income Tax rebate limit has been increased to Rs. 7 lakh from the existing Rs. 5 lakh. She added that the new tax regime will now be the default tax regime.

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