FM Nirmala Sitharaman Clarifies No Income Tax Until Rs 7.27 Lakh

Last updated: 14 July 2023

Finance Minister Nirmala Sitharaman clarified on Friday, July 14, 2023, that annual income up to Rs 7.27 lakh will not be taxed. This is because the basic exemption limit for the new income tax slabs is Rs 3 lakh, and taxpayers who opt for the new tax regime will also be eligible for a standard dedu

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