https://www.taxtmi.com/news?id=26189 The Budget increases central capital expenditure substantially and establishes an Urban Infrastructure Development Fund while providing a 50 year interest free loan window to states for capital projects. It makes the new personal income tax regime the default with an expanded rebate and a standard deduction for salaried taxpayers and pensioners, reduces the top surcharge in the new regime, and raises the leave encashment exemption limit. Indirect tax changes rationalise customs duty bands to promote domestic manufacturing, exports and green energy inputs, and the GST law is to be amended to raise prosecution thresholds and decriminalise specified offences. en-us Wed, 01 Feb 2023 15:20:00 +0530 Wed, 01 Feb 2023 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26189 The Budget increases central capital expenditure substantially and establishes an Urban Infrastructure Development Fund while providing a 50 year interest free loan window to states for capital projects. It makes the new personal income tax regime the default with an expanded rebate and a standard deduction for salaried taxpayers and pensioners, reduces the top surcharge in the new regime, and raises the leave encashment exemption limit. Indirect tax changes rationalise customs duty bands to promote domestic manufacturing, exports and green energy inputs, and the GST law is to be amended to raise prosecution thresholds and decriminalise specified offences. News - Wed, 01 Feb 2023 15:20:00 +0530 https://www.taxtmi.com/news?id=26189