1.
Infra gets boost:
- Highest ever capital outlay of Rs. 2.40 lakh crores for Railways
- 50-year interest-free loans to states one more year for infra spends
Infra gets boost:
- Highest ever capital outlay of Rs. 2.40 lakh crores for Railways
- 50-year interest-free loans to states one more year for infra spends
2.
Agri & Fisheries to benefit:
- Agricultural accelerator fund to promote agri-startups
- 10,000 bio-input resource centres in next 3 yrs to promote natural farming
- 6000 Cr outlay for Animal husbandry, dairy, and fisheries
Agri & Fisheries to benefit:
- Agricultural accelerator fund to promote agri-startups
- 10,000 bio-input resource centres in next 3 yrs to promote natural farming
- 6000 Cr outlay for Animal husbandry, dairy, and fisheries
3.
Seven priorities of the budget:
1. Inclusive development
2. Reaching the last mile
3. Infra & investment
4. Unleashing the potential
5. Green growth
6. Youth power
7. Financial sector
Seven priorities of the budget:
1. Inclusive development
2. Reaching the last mile
3. Infra & investment
4. Unleashing the potential
5. Green growth
6. Youth power
7. Financial sector
4.
Ease of doing business and simplification of compliance:
- 39,000 compliance reduced
- 3,400 provisions decriminalised
- PAN to be used as common identifier for digital systems
- Entity for Digilocker to be setup for SMEs, businesses & trusts
Ease of doing business and simplification of compliance:
- 39,000 compliance reduced
- 3,400 provisions decriminalised
- PAN to be used as common identifier for digital systems
- Entity for Digilocker to be setup for SMEs, businesses & trusts
5.
Women & Senior citizens:
- Mahila Samman Savings Certificate launched (7.5% int., 2 yrs tenure, 2L limit)
- Senior Citizen Savings Scheme deposit limit increased from 15 Lakh to 30 Lakh
#BudgetSession #Askkamra
Women & Senior citizens:
- Mahila Samman Savings Certificate launched (7.5% int., 2 yrs tenure, 2L limit)
- Senior Citizen Savings Scheme deposit limit increased from 15 Lakh to 30 Lakh
#BudgetSession #Askkamra
6.
Employment & training:
- National Apprenticeship Promotion Scheme as stipend support for 47 lakhs youth in 3yrs
- Pradhan Mantri Kaushal Vikas Yojana 4.0 to upskill youths within the next 3yrs
- 30 Skill India Centres to be established
#NirmalaSitaraman #education
Employment & training:
- National Apprenticeship Promotion Scheme as stipend support for 47 lakhs youth in 3yrs
- Pradhan Mantri Kaushal Vikas Yojana 4.0 to upskill youths within the next 3yrs
- 30 Skill India Centres to be established
#NirmalaSitaraman #education
6.
E-filing gained traction this fiscal:
- It received highest of 72 lakh returns in a day
- It processed more than 6.5 crores returns
- 45% returns processed within 24 hrs
#Budget2023 #tax
E-filing gained traction this fiscal:
- It received highest of 72 lakh returns in a day
- It processed more than 6.5 crores returns
- 45% returns processed within 24 hrs
#Budget2023 #tax
7.
Tax rebate under section - 87A limit increased from 5 Lakh to 7 Lakh
#taxation #incometax #newtaxregime
Tax rebate under section - 87A limit increased from 5 Lakh to 7 Lakh
#taxation #incometax #newtaxregime
8.
New tax slab for New Tax Regime:
Income
β’ < 3 Lakhs = Nil
β’ 3 - 6 Lakhs = 5%
β’ 6 - 9 Lakhs = 10%
β’ 9 - 12 Lakhs = 15%
β’ 12 - 15 Lakhs = 20%
β’ > 15 Lakhs = 30%
#directtax #taxation #incometax #middleclass
New tax slab for New Tax Regime:
Income
β’ < 3 Lakhs = Nil
β’ 3 - 6 Lakhs = 5%
β’ 6 - 9 Lakhs = 10%
β’ 9 - 12 Lakhs = 15%
β’ 12 - 15 Lakhs = 20%
β’ > 15 Lakhs = 30%
#directtax #taxation #incometax #middleclass
9.
Announcement: Highest surcharge rate reduced from 37% to 25% in the new tax regime
Impact: This will reduce highest income tax rate from 42.7% to around 39%
#budget2023 #gdp #sensex
Announcement: Highest surcharge rate reduced from 37% to 25% in the new tax regime
Impact: This will reduce highest income tax rate from 42.7% to around 39%
#budget2023 #gdp #sensex
10.
Advantages on options for New Tax Regime as you have to pay zero tax on income up to Rs 7 Lakh.
Confused between Old vs New Tax regime? Watch this -
Advantages on options for New Tax Regime as you have to pay zero tax on income up to Rs 7 Lakh.
Confused between Old vs New Tax regime? Watch this -
11.
Taxpayers with income more than Rs 15 Lakh to get a standard deduction of Rs. 52,500 in the new tax regime.
#rebate #middleclass #AskKamra
Taxpayers with income more than Rs 15 Lakh to get a standard deduction of Rs. 52,500 in the new tax regime.
#rebate #middleclass #AskKamra
12.
A. Total Income of 5 Lakhs:
- Tax under Old Regime = 0
- Tax under New Regime = 0
B. Total Income of 7 Lakhs:
- Tax under Old Regime = Rs 54,600
- Tax under New Regime = 0
#incometax #IndianEconomy
A. Total Income of 5 Lakhs:
- Tax under Old Regime = 0
- Tax under New Regime = 0
B. Total Income of 7 Lakhs:
- Tax under Old Regime = Rs 54,600
- Tax under New Regime = 0
#incometax #IndianEconomy
13.
Salaried Individual earning Rs 10 Lakhs per annum without any 80C investment
Tax under Old Regime = Rs 1,06,600
Tax under New Regime = Rs 62,400
#UnionBudget2023 #slabrate
Salaried Individual earning Rs 10 Lakhs per annum without any 80C investment
Tax under Old Regime = Rs 1,06,600
Tax under New Regime = Rs 62,400
#UnionBudget2023 #slabrate
14.
Salaried Individual earning Rs 10 LPA with 80C investments of Rs 1.5 Lakhs
Tax under Old Regime = Rs 75,400
Tax under New Regime = Rs 62,400
#taxslab #LTCG
Salaried Individual earning Rs 10 LPA with 80C investments of Rs 1.5 Lakhs
Tax under Old Regime = Rs 75,400
Tax under New Regime = Rs 62,400
#taxslab #LTCG
17.
Support for poor prisoners:
- The govt to provide money to secure bail for prisoners who canβt afford it.
#jail #prison
Support for poor prisoners:
- The govt to provide money to secure bail for prisoners who canβt afford it.
#jail #prison
18.
Salaried Individual earning Rs 15 Lakh Per Annum ππΆππ΅πΌππ any 80C investments
β’ Tax under Old Regime = Rs 2,57,400
β’ Tax under New Regime (before budget) = Rs 1,95,000
β’ Tax under New Regime (after budget) = Rs 1,56,000
#stocks #incometax #budget
Salaried Individual earning Rs 15 Lakh Per Annum ππΆππ΅πΌππ any 80C investments
β’ Tax under Old Regime = Rs 2,57,400
β’ Tax under New Regime (before budget) = Rs 1,95,000
β’ Tax under New Regime (after budget) = Rs 1,56,000
#stocks #incometax #budget
19.
Salaried Individual earning Rs 15 Lakh Per Annum ππΆππ΅ 1.5L 80C investments
β’ Tax under Old Regime = Rs 2,10,600
β’ Tax under New Regime (before budget) = Rs 1,95,000
β’ Tax under New Regime (after budget) = Rs 1,56,000
#salary #Budget2023 #AskKamra
Salaried Individual earning Rs 15 Lakh Per Annum ππΆππ΅ 1.5L 80C investments
β’ Tax under Old Regime = Rs 2,10,600
β’ Tax under New Regime (before budget) = Rs 1,95,000
β’ Tax under New Regime (after budget) = Rs 1,56,000
#salary #Budget2023 #AskKamra
20.
Salaried Individual earning Rs 20 Lakh Per Annum ππΆππ΅πΌππ any 80C investments
β’ Tax under Old Regime = Rs 4,13,400
β’ Tax under New Regime (before budget) = Rs 3,51,000
β’ Tax under New Regime (after budget) = Rs 2,95,620
#BudgetwithFinology #scheme
Salaried Individual earning Rs 20 Lakh Per Annum ππΆππ΅πΌππ any 80C investments
β’ Tax under Old Regime = Rs 4,13,400
β’ Tax under New Regime (before budget) = Rs 3,51,000
β’ Tax under New Regime (after budget) = Rs 2,95,620
#BudgetwithFinology #scheme
21.
Salaried Individual earning Rs 20 LPA ππΆππ΅ 1.5 Lakh Per Annum 80C investments
β’ Tax under Old Regime = Rs 3,66,600
β’ Tax under New Regime (before budget) = Rs 3,51,000
β’ Tax under New Regime (after budget) = Rs 2,95,620
#incometax #money #investing
Salaried Individual earning Rs 20 LPA ππΆππ΅ 1.5 Lakh Per Annum 80C investments
β’ Tax under Old Regime = Rs 3,66,600
β’ Tax under New Regime (before budget) = Rs 3,51,000
β’ Tax under New Regime (after budget) = Rs 2,95,620
#incometax #money #investing
We've considered only 80C investments of 1.5 Lakh for all old regime calculations.
Anyone having other investments like 80D etc., will pay lower taxes under the old regime.
#AskKamra #banknifty #Budget2023
Anyone having other investments like 80D etc., will pay lower taxes under the old regime.
#AskKamra #banknifty #Budget2023
22.
Various things will get cheaper due to a decrease in customs duties.
Some are
β’ TV
β’ Shrimp feed
β’ Mobile phones
β’ Lab-grown diamonds
β’ Raw materials for EV industry
β’ Machinery for lithium-ion batteries
#AskKamra #budget2023
Various things will get cheaper due to a decrease in customs duties.
Some are
β’ TV
β’ Shrimp feed
β’ Mobile phones
β’ Lab-grown diamonds
β’ Raw materials for EV industry
β’ Machinery for lithium-ion batteries
#AskKamra #budget2023
23.
Various things will get costlier due to an increase in customs duties.
Some are
β’ Silver
β’ Cigarettes
β’ Imitation Jewellery
β’ Compounded rubber
β’ Imported bicycles & toys
β’ Imported luxury cars & EVs
β’ Articles made from gold bars
β’ Imported kitchen electric chimney
Various things will get costlier due to an increase in customs duties.
Some are
β’ Silver
β’ Cigarettes
β’ Imitation Jewellery
β’ Compounded rubber
β’ Imported bicycles & toys
β’ Imported luxury cars & EVs
β’ Articles made from gold bars
β’ Imported kitchen electric chimney
Oh, and by the way, for all your Rebate and "New Regime vs Old Regime" queries, visit
insider.finology.in/economy/incomeβ¦
insider.finology.in/economy/incomeβ¦
β’ β’ β’
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