New order issued for taxpayers! Now these people will not have to pay tax, check details

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Income tax exemption: Modi government on income tax: This time the Modi government has taken an important decision, after which no tax will be levied on the income of crores of taxpayers of the country. Finance Minister Nirmala Sitharaman had made a special announcement regarding this in Budget 2023.

There is great news for the people who pay income tax. If you also pay income tax, then now you have got a big relief from the central government. This time an important decision has been taken by the Modi government, after which no tax will be levied on the income of crores of taxpayers of the country. Finance Minister Nirmala Sitharaman had made a special announcement regarding this in Budget 2023. Let us tell you that now which people have got freedom from paying tax.

was announced in the budget

In February, the Modi government had presented the budget, in which the Finance Minister had announced that under the new tax system, tax payers are now getting relief from paying taxes. The government had decided to increase the income tax exemption to Rs 7 lakh in the new tax regime. That is, now people with income up to 7 lakhs will not have to pay tax.

Earlier the limit was 5 lakhs. Let us tell you that the government had told that from now on if someone files tax under the new tax regime, he will not have to pay tax on income up to Rs 7 lakhs. Earlier this limit was Rs 5 lakh, which was increased to Rs 7 lakh in February. People with more salary have benefited from the increase in tax exemption.

Apart from this, you will also get the benefit of standard

New tax cuts. Salaried and pensioners now filing taxes under the new tax regime will get an additional benefit of Rs 50,000. In such a situation, on earning seven lakh rupees annually in the new tax system, a rebate of 50 thousand rupees will also be available under the standard deduction.

(pc rights of employees)

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