Question

According to Union Budget 2023-24, consider the

following statements regarding the Income Tax: 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. Which of the above statements is/are correct?

A 1 only

B 1 and 2 only

C 2 and 3 only

D 1 and 3 only

E 1, 2 and 3

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According to Union Budget 2023-24, consider the

Solution