Question
According to Union Budget 2023-24, consider the
following statements regarding the Income Tax: Â 1. It is proposed to increase the rebate limit to Rs 7 lakh in the both tax regime. 2. It is proposed to change the tax structure in only the new tax regime by reducing the number of slabs to six. 3. Tax exemption limit has been increased to 3 lakh. Â Which of the above statements is/are correct?Solution
It is proposed to increase the rebate limit to Rs 7 lakh in the new tax regime. Thus, persons in the new tax regime, with income up to Rs 7 lakh will not have to pay any tax. Â The second proposal relates to middle-class individuals. I had introduced, in the year 2020, the new personal income tax regime with six income slabs starting from 2.5 lakh. Â I propose to change the tax structure in this regime by reducing the number of slabs to five and increasing the tax exemption limit to 3 lakh. Hence, it is not related to indirect tax.
Present ages of P and Q are in the ratio 5:8 respectively. If Q’s age, 14 years hence from now will be 4 times of P’s age, 4 years ago from now, the...
Currently, the average age of Sam, Sarah, and Seth is 32 years, whereas the average age of Sam and Sarah is 36 years. Calculate the age of Sarah after e...
The ages of A, B and C are in the ratio 3:5:7 and the sum of their ages is 60. Find the ratio of 10 years ago B’s age to C’s age after 10 years.
...- The combined present ages of Veer and Raj are 48 years. In 4 years, their age ratio will be 1:3. What is the age difference?
If 3 years is subtracted from the present age of R and the remainder is divided by 9, then the present age of his grandson A is obtained. If A is 4 yea...
6 years ago from now, Arjun said to Rohit, my age is thrice your age. 9 years hence from now, Rohit said to Arjun, my age is 50% less than yours. Find ...
The current age ratio of P to Q is 9:13. Six years ago, Q's age was 4 years less than twice P's age at that time. If the average ...
The average of the current ages of Armaan, Biju, Chinky, and Danny is 31 years. Two years from now, the average age of Armaan and Biju will be 22 years....
The present age of A is 9/5 times to that of his marriage age. Present age of his brother is 1/2nd of his present age. If A was married 24 years ago the...
11 years ago from now, the ages of ‘Pawan’ and ‘Qureshi’ were in the ratio 7:9, respectively. If 7 years hence from now, ages of ‘Pawan’ and...
