Direct Taxes proposals Budget 2023

0
121
Direct Taxes proposals Budget 2023
  • New Coperatives – 15% Tax Rate.
  • Higher limit of cash deposit & TDS (3lakhs) limit for Primary Cooperatives etc
  • Start Ups benefits extended by 1 year to 1.4.2023
  • 100 new JC IT(A) for faster processing appeals
  • No CG on gold Co version to bonds
  • TDS on EPF Reduced
  • Relief 87A increased to 7L. Meaning no tax till 7L income only under New tax regime
  • Tax slabs under new regime changed. Reduced to 5 Slabs from 6 slabs.
    New Income Tax Slabs
    Rs 0-3 lk: NIL
    Rs 3-6 lk: 5%
    Rs 6-9 lk: 10%
    Rs 9-12 lk: 15%
    Rs 12-15 lk: 20%
    Above Rs 15 lk: 30%
  • Standard deduction introduced for Salary – 52500 under new regime.
  • Surcharge reduced from 37% to 25% under the New tax regime.
  • New tax regime to become the default tax regime, however there is still an option to the taxpayers to select old/ new regime.
Previous articleHighlights of Union Budget 2023-24
Next articleThe Use of AI in the Field of Energy Efficiency: A Guide to Smart Home Management and Energy Consumption Prediction
Ravindra Kirti is a well-rounded Marketing professional with an impressive academic and professional portfolio. He is IIM Calcutta alumnus & holds a PhD in Commerce, having written an insightful thesis on consumer behavior and psychology, which informs his deep understanding of market dynamics and client engagement strategies. His academic journey includes an MBA in Marketing, where he specialized in strategic management, international marketing, and luxury retail management, equipping him with a global perspective and a strategic edge in high-end market segments. In addition to his business expertise, Ravindra is also academically trained in law, holding a Master’s in Law with specializations in law of patents, IT & IPR, police law and administration, white-collar crime, and corporate crime. This legal knowledge complements his role as the Chief at Jurislaw Partners, where he applies a blend of legal acumen and strategic marketing. With such a rich educational background, Ravindra excels across a range of fields, from legal marketing to luxury retail, and event design. His ability to interlace disciplines—commerce, marketing, and law—enables him to drive successful outcomes in every venture he undertakes, whether as Chief at Jurislaw Partners, Editor at Mojo Patrakar and Global Growth Forum, Founder of CircusINC, or Chief Designer at Byaah by CircusINC. On a personal note, Ravindra Kirti is not only a devoted pawrent to his pet, Kattappa, but also an enthusiast of Mixed Martial Arts (MMA) and holds a Taekwondo Dan 1. This active lifestyle complements his multifaceted career, reflecting his discipline, resilience, and commitment—qualities he brings into his professional relationships. His bond with Kattappa adds a warm, grounded side to his profile, showcasing his nurturing and compassionate nature, which shines through in his connections with clients and colleagues. Ravindra’s career exemplifies versatility, intellectual depth, and excellence. Whether through his contributions to media, law, events, or design, he remains a dynamic and influential presence, continually innovating and leaving a lasting impact across industries. His ability to balance these diverse roles is a testament to his strategic vision and dedication to making a difference in every field he enters.