No income tax upto Rs 7 lakh, says FM

February 01, 2023 13:08

Nirmala Sitharaman announced an increase in income tax rebate limit from Rs 5 lakh to Rs 7 lakh under the new tax regime. Consequently, there will be no income tax on income up to Rs 7 lakh, up from Rs 5 lakh currently, under the new tax regime.

Not under the old tax regime.

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