Budget 2023 : Standard deduction
Prof Suhasini (1732 Points)
01 February 2023
Is standard deduction available in new tax regime ?
20 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
Yes. Its available as per Budget 2023
Prof Suhasini
(1732 Points)
Replied 01 February 2023
Is rebate upto 7Lacs available in old Tax regime?
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
No. Only upto 5Lakhs , rebate is available under old tax regime
Prof Suhasini
(1732 Points)
Replied 01 February 2023
Is 2.5Lacs is the basic exemption limit under old tax regime?
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
Yes. Only new tax regime has enhanced basic exemption upto 3lacs
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
Yes. For business : 3 Crores .
For Profession : 75Lakhs
For Profession : 75Lakhs
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
Yes . Govt wants all to go by new tax regime
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 01 February 2023
The demand for housing loan , LIC and other tax saving investments may get reduced
Prof Suhasini
(1732 Points)
Replied 01 February 2023
Huge effect on insurance and housing loan business?
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