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of <h1>Finance Bill 2023: Amendments to Income-tax Act, new tax rates, updated deductions, and changes to GST and Customs Acts.</h1> The Finance Bill, 2023 introduces several amendments to the Income-tax Act and other related legislations. Key changes include specifying tax rates for the assessment year 2023-2024, revising definitions, and updating provisions for tax deductions and exemptions. Amendments also address capital gains, tax on winnings, and procedures for tax assessments. The Bill introduces new sections for specific tax treatments, such as Market Linked Debentures and the Agnipath Scheme. Changes to the Central Goods and Services Tax Act include new timelines for filing returns and decriminalizing certain offenses. The Bill also proposes amendments to the Customs Act and other financial legislation, aiming to streamline procedures and enhance compliance.
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