Tax-free slab may be increased to ₹5 lakh under new regime in Budget 2023

December 13, 2022 03:16 PM

A government official said policymakers are examining the possibility of increasing the tax-free slab to ₹5 lakh in the two-year-old personal income tax regime, as per a report.

Currently, an income of up to ₹2.5 lakh is exempted from tax.

The new personal income tax regime with lower rates was introduced as an option in the Union Budget 2020-21.

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