https://www.taxtmi.com/news?id=26188 Direct tax reforms simplify the new personal income tax regime by reducing slab complexity and raising the exemption threshold, increasing rebate coverage and extending standard-deduction-like reliefs; the new regime is proposed as default with the old regime remaining optional. Additional measures include reduced top surcharge in the new regime, expanded presumptive taxation limits subject to cash-receipt conditions, timing-based deduction for payments to MSMEs, tax concessions for new manufacturing co-operatives and start-ups, limits on high-value insurance and capital-gain exemptions, EEE status for the Agniveer Fund, decriminalisation of select tax offences, and administrative steps to improve filing and appeal disposal. en-us Wed, 01 Feb 2023 15:08:18 +0530 Wed, 01 Feb 2023 15:08:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26188 Direct tax reforms simplify the new personal income tax regime by reducing slab complexity and raising the exemption threshold, increasing rebate coverage and extending standard-deduction-like reliefs; the new regime is proposed as default with the old regime remaining optional. Additional measures include reduced top surcharge in the new regime, expanded presumptive taxation limits subject to cash-receipt conditions, timing-based deduction for payments to MSMEs, tax concessions for new manufacturing co-operatives and start-ups, limits on high-value insurance and capital-gain exemptions, EEE status for the Agniveer Fund, decriminalisation of select tax offences, and administrative steps to improve filing and appeal disposal. News - Wed, 01 Feb 2023 15:08:18 +0530 https://www.taxtmi.com/news?id=26188