Budget 2023: Experts state why basic income tax exemption limit should be increased to Rs 5 lakh
Currently, the basic income tax exemption limit is Rs 2.5 lakh for individual taxpayers under both the old and new income tax regimes. Experts are now asking the central govt to increase the basic exemption limit from Rs 2.5 lakh to Rs 5 lakh in Budget 2023 to boost consumption and further leg-up in the economic recovery. Will Finance Minister Nirmala Sitharaman provide this much-needed relief to middle-class taxpayers in Budget 2023? Read on
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