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Highlights of the Direct Taxation Budget for 2023

The income tax slabs under the new tax system have changed as a result of Budget 2023. Under the new tax system, the government increased the basic income exemption ceiling from Rs 2.5 lakh to Rs 3 lakh. In addition, the government raised the threshold for rebate eligibility under the new tax system from Rs …

Comparing the Old and New Income Tax Regimes after Budget : Which is More Favorable

The taxes you pay could be adjusted in the near future, as Finance Minister Nirmala Sitharaman announced significant changes during her budget speech, aimed at supporting the hard-working middle-class taxpayers. These changes are referred to as new income tax slabs, which have been designated as the default tax regime by the government. However, the previous …

Income Tax refund

In layman terms, tax refund is the disparity between the taxes paid and taxes owed to you. A tax refund is furnished to the taxpayer when the tax liability is less than the taxes paid. As per the Income Tax and other Direct Tax laws, a refund occurs when taxes paid are higher than your …


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