According to Union Budget 2023-24, consider the

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.   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.   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.