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Union Budget 2023: Income Tax- Rebate Extended on Income up to Rs 7 Lakhs

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New Delhi:Govt proposes to make new tax structure as default tax
An individual with annual income of Rs 9 lakh will have to pay only Rs 45,000
Processing Time for Income Tax Returns Reduced from 93 Days to 16 Days
Average processing time for income tax returns reduced from 93 days to 16 days. The government intends to roll out next-gen common IT Return forms and strengthen grievance redressal mechanism
Income Tax Slab Increased, No Tax till Rs 7 lakh


FM gives major announces major sop for the common man. Income tax- rebate extended on income up to Rs 7 lakhs in new tax regime
30 Skill India international centres to be set up

Govt to Facilitate 1 Crore Farmers to Adopt Natural Farming
Income Tax- Rebate Extended on Income up to Rs 7 Lakhs
Govt to set up Gowardhan Scheme for promoting circular economy with total investment of Rs 10,000 cr. Govt to take up mangrove plantation along the coastline under the new MISHTI scheme.
Green credit programme will be notified to incentivise environmentally sustainable and responsible actions by companies
Green credit programme will be notified under the Environment Protection Act
Govt to spend Rs 10,000 crore per year for urban infra development fund
Govt targeting 5 MT of Green Hydrogen production by 2030

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