Budget 2023: How much India stands to lose after income tax, indirect duty tweaks

Union Budget 2023: The Budget today proposed to make new income tax regime the default option. Basic exemption limit from next fiscal year will go up to Rs 3 lakh from Rs 2.5 lakh now under the new income tax regime. Income tax slabs in new tax regime has been changed as well. New cooperatives that commence manufacturing activity till March 2024 to attract lower tax rate of 15%.

Budget 2023: How much India stands to lose after income tax, indirect duty tweaks
Union Budget 2023: The Budget today proposed to make new income tax regime the default option. Basic exemption limit from next fiscal year will go up to Rs 3 lakh from Rs 2.5 lakh now under the new income tax regime. Income tax slabs in new tax regime has been changed as well. New cooperatives that commence manufacturing activity till March 2024 to attract lower tax rate of 15%.