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Budget 2023
Budget 2023

Budget 2023 | On taxpayers’ wishlist: Higher basic tax exemption limit, higher exemption from long-term gains tax on equity

Strap: Individual taxpayers also expect finance minister Nirmala Sitharaman to raise section 80C limits

January 17, 2023 / 12:24 PM IST

Finance minister Nirmala Sitharaman recently said that she understands the challenges that the middle-class faces.

This appears to have raised hopes among some taxpayers and tax experts that Budget 2023 might reward the middle-class, also because this is the last full-year budget before the 2024 general elections.

However, it remains to be seen if the finance minister grants taxpayers their wishes or saves the ‘best’ for the last, as was the case during the interim budget in 2019.

Also Read: Allow routine medical expenses as tax deduction under section 80D