Budget 2023 - India

[Deleted member 9785]

What you guys feel

Will income tax exemption and 80C limits going to be increased?

I think income tax should be exempt till 7.5 lacs looking at inflation

 

[ak90]

Dude, inflation will be the reason not to increase tax exemption limits

 

[PavvanPavvan is verified member.]

Will keep this thread active 🙂
Will Request to @Bigde to share his thoughts

 

[R!ppEr]

common man is due for some respite in taxation, and i think it should come in this budget since the general elections are due next year

 

[Deleted member 9785]

seems no change in tax slabs

 

[Chaitanya-a]

Done. Its 7 lacs now

 

[Deleted member 9785]

Done. Its 7 lacs now

bhaiya its only for new tax regime . Anyhow old tax regime it was 5 lacs + 1.5 lacs 80C = 6.5 lacs

 

[Deleted member 9785]

In new tax regime you lose benefits of HRA,80C,80CC(D) 80D ultimately back to square one.

 

[PavvanPavvan is verified member.]

be proud that cashback earned on Credit card is still not taxable 😀

 

[R!ppEr]

by default everyone moves to the new tax regime! 😛

 

[PavvanPavvan is verified member.]

Tax slabs have changed for old tax regime as well I think. Now it's 20% up to 15L, instead of 10L

 

[NewUser]

View attachment 9730

I stand corrected. Deleting the old comment.

 

[rp0703]

be proud that cashback earned on Credit card is still not taxable 😀

Who told you it's not taxable? It's your income, you should declare it as income from other sources in your return.

 

[gurbina]

It's easier to ask what's not taxable. I have yet to come up with an answer.

Everything is taxed somehow in one way or another, somewhere along the way.

There's no escape, just take the blue pill, file your taxes and move along.

 

[rp0703]

It's easier to ask what's not taxable. I have yet to come up with an answer.

Everything is taxed somehow in one way or another, somewhere along the way.

There's no escape, just take the blue pill, file your taxes and move along.

Simple rule. Every income is taxable unless specifically exempted by the government or Tax laws.

 

[R!ppEr]

budget gave some hope, but Nifty has tanked! #adani 🙁

 

[gurbina]

budget gave some hope, but Nifty has tanked! #adani 🙁

Has anyone bothered to do some research? I'd like to know what people think of this and what side they're on.

Historically speaking, I'm inclined to think there's indeed foul play whether that's tax evasion, fraud, accounting malpractice, favoritism, cronyism, etc.

The fact Adani shielded behind the flag and India triggered a big red flag. What do you think would make him say that if not his position within the high ranking officials and history with them? Nothing he has done excuses him of any wrong doings, and irregardless of what he has done its a for profit businessman.

I can see lots of people affected by this sadly.

 

[R!ppEr]

Has anyone bothered to do some research? I'd like to know what people think of this and what side they're on.

Historically speaking, I'm inclined to think there's indeed foul play whether that's tax evasion, fraud, accounting malpractice, favoritism, cronyism, etc.

The fact Adani shielded behind the flag and India triggered a big red flag. What do you think would make him say that if not his position within the high ranking officials and history with them? Nothing he has done excuses him of any wrong doings, and irregardless of what he has done its a for profit businessman.

I can see lots of people affected by this sadly.

any person or company generating wealth like he did in the last 3 yrs is bound to be via shady practices. one cannot just grow this big this fast being ethical!

 

[gurbina]

any person or company generating wealth like he did in the last 3 yrs is bound to be via shady practices. one cannot just grow this big this fast being ethical legally!

Fixed.

 

[prc1990]

Does it mean tax for net income/taxable income (post all the deductions) till 600K under old regime, is nill?