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10 big income tax rule changes from 1 April 2023 for taxpayers. Details here
There are many changes in the income tax rules effective from this financial year. Changes in income tax slabs to #tax rebate limit raised, No LTCG tax benefit on some debt mutual funds are some of the major changes effective from 1 April 2023. This limit was ₹3 lakh since 2002 and is now increased to ₹25 lakh 6) No LTCG tax benefit on these Mutual Funds From April 1, investments in debt mutual funds will be taxed as short-term capital gains. With this, grandfathering of earlier investments will end and the impact on the mutual fund industry will be slightly negative. 9) Benefits to Senior Citizens The maximum deposit limit for senior citizen savings scheme will be increased to ₹30 lakhs from ₹15 lakhs. This will be effective from 1 April 2023. Source -https://www.livemint.com/news/india/10-big-income-tax-rule-changes-from-1-april-2023-for-taxpayers-details-here-11679891911332.html
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