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Budget 2023 income tax expectations: Deduction hike, higher 80C exemption and lower rates

Budget 2023 income tax expectations: Experts want the finance minister to announce some tax relief in the last full budget of the Modi government ahead of the 2024 Lok Sabha election to leave more disposable income in the hands of the taxpayers

January 25, 2023 / 11:20 AM IST
FM Nirmala Sitharaman should consider taking a look at certain income tax exemption, deduction limits

FM Nirmala Sitharaman should consider taking a look at certain income tax exemption, deduction limits

Will the Budget 2023 be kinder? Hit hard by red-hot inflation, an uncertain job scenario and higher EMIs, the last few budgets have left the salaried class disappointed on the income-tax front.

Its now hoping that when finance minister Nirmala Sitharaman presents the Union Budget 2023-24, there will be some relief.

Experts, too, want the finance minister to announce some tax relief in the last full budget of the Modi government ahead of the 2024 Lok Sabha election to leave more disposable income in the hands of the taxpayers, which will boost spending that will give the much-needed fillip to the economy.

Budget 2023: Raise standard deduction limit