The Union Budget 2023-24 is finally out and the government announced the increase in the rebate limit under the new tax regime from the financial year 2023-24 which will help salaried individuals with an income up to Rs. 7.5 Lakhs to reduce their tax liability to zero.   While this announcement brought a wave of happiness amongst individuals with an income of up to Rs. 7 Lakhs, but the newly introduced tax regime is not as simple as it seems. There are a few crucial details which you need to be aware of to bring down your tax liability to zero and here’s our financial expert explaining the same.  

This video will help you understand; 

·       The new tax regime 

·       The reduced tax liability 

·       Rebate Under Section 87A 

·       Increased Basic Exemption Limit 

·       Revised Slabs and Tax Rates 

·       Newly Introduced Standard Deduction 

·       Enhanced Leave Encashment Exempt Limit 

·       Reduced Surcharge 

·       Deduction In Family Pension

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