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Even if you’ve already filed your 2022 tax return, you may still be eligible to apply for the new Working Families Tax Credit (WFTC) program.
With a plethora of changes in tax slabs and consumer segment, several rules are set to change from April 1, 2023. Among others, the most important change is that with effect from April 1, new tax regime will become the default option. Under the new tax regime, there is no tax up to ₹7 lakh. The removal of indexation benefit on LTCG tax on debt mutual funds is another key change which will have a significant impact on existing, as well as new investors, who may want to re-strategise their MF allocations., Personal Finance News, Times Now
Even if you’ve already filed your 2022 tax return, you may still be eligible to apply for the new Working Families Tax Credit (WFTC) program.
From April 1, 2023, the new tax regime will be the default regime if a taxpayer fails to note which of the two regimes, old or new, she or he would opt for to file income tax return. Watch this Business Today Visual Story to check new income tax slabs, new tax rates and other tax rule changes.
The amendment to Finance Bill 2023 will not only alter the course of financial savings but will also impact the fortunes of stocks in the finance space