Question
Which of the following statements is/are not correct in
regards to Direct Taxes in budget 2023-24? 1.   6 income slabs has been reduced to 4 income slabs 2.   Rebate limit of Personal Income Tax to be increased to Rs. 7 lakh 3.   Agniveers enrolled in Agnipath Scheme, 2022 is proposed to be exempt from taxesSolution
Tax structure in new personal income tax regime, introduced in 2020 with 6 income slabs, to change by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs. 3 lakh. Rebate limit of Personal Income Tax to be increased to Rs. 7 lakh from the current Rs. 5 lakh in the new tax regime. payment received from the Agniveer Corpus Fund by the Agniveers enrolled in Agnipath Scheme, 2022 is proposed to be exempt from taxes.
More Beepedia Questions