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Budget 2023: Major announcements for Income Taxpayer

Budget 2023: Major announcements for Income Taxpayer

Finance Minister Nirmala Sitharaman announced the new income tax slabs under the new income tax regime in her Budget speech on Wednesday. The tax rebate has been raised from Rs 5 to 7 lakh under the new regime. Moreover, the new tax regime will be default unless the taxpayer choses to adopt the old regime.

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