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