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A hike of 2 lakhs in the erstwhile 5 lakhs tax rebate ceiling; taxpayers opting for the New scheme to enjoy 0 payable income tax upto 7 lacs

New Delhi [India], February 7 (ANI/SRV): The announcement of the revised tax slabs, presented in the Union Budget 2023 by the Finance Minister, Nirmala Sitaraman on the 1st of February came with a New Scheme under which there will be no payable income tax for those under 7LPA of personal income. Earlier the tax rebate ceiling was 5 LPA under the two concurrent taxation schemes, while now those who opt for the New Scheme will enjoy an additional roof of 2 lakhs. This new development indicates an increase in discretionary income, which in turn is expected to boost the commercial scene in the country due to the fact that the bottom end of the economy has more capital to dispense. With the rise in discretionary income coupled with a host of growth-inducing measures, the Union Budget 2023, has been deemed by several experts as an overall positive, growth-oriented budget. The new budget has put much emphasis on capital expenditure, infrastructure development, and the expansion, nurturing, an ....

New Delhi , Ravi Agrawal , Nirmala Sitaraman , Kaushal Vikas Yojana , Group Of Companies , Pm Primitive Vulnerable Tribe Group , Union Budget , Finance Minister , New Scheme , Pradhan Mantri Awas Yojana , Indian Government , Vikas Yojana , Gift City , Vulnerable Tribe Group , New Delhi India , Ebruary 7 Ani Srv The Announcement Of Revised Tax Slabs , Resented In The Union Budget 2023 By Finance Minister , Irmala Sitaraman On The 1st Of February Came Witha New Scheme Under Which There Will Be No Payable Income Tax For Those 7lpa Personal Earlier Rebate Ceiling Was 5 Lpa Two Concurrent Taxation Schemes , Hile Now Those Who Opt For The New Scheme Will Enjoy An Additional Roof Of 2 Lakhs This Development Indicates Increase In Discretionary Income , Hich In Turn Is Expected To Boost The Commercial Scene Country Due Fact That Bottom End Of Economy Has More Capital Dispense With Rise Discretionary Income Coupled Witha Host Growth Inducing Measures , He Union Budget 2023 , As Been Deemed By Several Experts An Overall Positive , Rowth Oriented Budget The New Has Put Much Emphasis On Capital Expenditure , Infrastructure Development , Nd The Expansion , Nd Growth Of The Manufacturing Sector In Country ,