https://www.taxtmi.com/article/detailed?id=11064 Finance Bill, 2023 amends the Income tax Act to introduce a revised New Tax Regime with specified slab rates, limited allowable deductions and rules for opting in or out; it reduces the maximum surcharge in the new regime and enhances the rebate under section 87A for resident individuals. The Bill further sets concessional tax treatment for certain manufacturing co operative societies, raises presumptive taxation thresholds where cash receipts are limited, prescribes TDS and tax treatment for online gaming winnings, tightens life insurance exemptions with taxation where sums exceed premiums, treats Market Linked Debentures as short term capital gains, caps rollover relief under sections 54/54F, and extends several startup and IFSC incentives. en-us Thu, 02 Feb 2023 11:44:49 +0530 Thu, 02 Feb 2023 11:44:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11064 Finance Bill, 2023 amends the Income tax Act to introduce a revised New Tax Regime with specified slab rates, limited allowable deductions and rules for opting in or out; it reduces the maximum surcharge in the new regime and enhances the rebate under section 87A for resident individuals. The Bill further sets concessional tax treatment for certain manufacturing co operative societies, raises presumptive taxation thresholds where cash receipts are limited, prescribes TDS and tax treatment for online gaming winnings, tightens life insurance exemptions with taxation where sums exceed premiums, treats Market Linked Debentures as short term capital gains, caps rollover relief under sections 54/54F, and extends several startup and IFSC incentives. Articles Budget - Tax Proposals Thu, 02 Feb 2023 11:44:49 +0530 https://www.taxtmi.com/article/detailed?id=11064