Budget 2023 - What Do Taxpayers Expect?

Bugdet 2023

Change in Tax Slabs and Tax Rates

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Changes to Deduction Limits

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Changes to Deduction on Children's Education Fees

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Tax Exemption on EVs

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Click Here to Read Budget 2022-23 Highlights

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Bugdet 2023

Here's What Taxpayers Expect

Change in Tax Slabs and Tax Rates

Since tax slabs and rates have been constant for a long period now, tax payers expect changes to manage rising cost of living and interest rates.

Changes to Deduction Limits

Deduction under section 80TTA has remained unchanged since 2012. With rising interest rates, the limit can be enhanced by Rs. 10,000-50,000.

Changes to Deduction on Children's Education Fees

As education costs are rising, parents expect a separate deduction for education fees instead of being clubbed with Sec 80C deductions.

Tax Exemption on EVs

As green transportation gains momentum, many people prefer to buy Electric Vehicles. This calls for changes to EV loan timelines in Section 80EEB.

Click Here to Read Budget 2022-23 Highlights