Budget 2023 - India

[Chaitanya-a]

Has anyone bothered to do some research? I'd like to know what people think of this and what side they're on.

Historically speaking, I'm inclined to think there's indeed foul play whether that's tax evasion, fraud, accounting malpractice, favoritism, cronyism, etc.

The fact Adani shielded behind the flag and India triggered a big red flag. What do you think would make him say that if not his position within the high ranking officials and history with them? Nothing he has done excuses him of any wrong doings, and irregardless of what he has done its a for profit businessman.

I can see lots of people affected by this sadly.

I had written a full fledged answer to this question on Quora that why retailers should stay away from Adani companies elaborating about their sky high debt and valuations an year ago. People are now asking whether you're connected from Hindenburg or what 😂

it was visible. Just ppl kept their eyes closed to make easy money.

 

[R!ppEr]

I had written a full fledged answer to this question on Quora that why retailers should stay away from Adani companies elaborating about their sky high debt and valuations an year ago. People are now asking whether you're connected from Hindenburg or what 😂

it was visible. Just ppl kept their eyes closed to make easy money.

you shouldve made short positions!!

 

[Deleted member 9785]

for people making more than 20 lacs is new tax regime better or old

 

[R!ppEr]

for people making more than 20 lacs is new tax regime better or old

i think new, even before these changes, for higher income group, new regime wouldve been better i think

 

[gurbina]

you shouldve made short positions!!

Sadly you could have kept losing money doing that, unless you were following closely Hinderburg. If they hadn't released the report this would have kept going until who knows when, maybe forever or until there was a big shift of the elected government officials.
I don't think this would have had the pull it had if it was done by someone in India as they would be at risk.

Also it was in the best interest of investors and most people in general in the country as things stand, nobody here will benefit from this right now. But it goes through and something happens it might open the door for a more transparent government and enforcement of the law.

 

[NewUser]

for people making more than 20 lacs is new tax regime better or old

Depends upon your investments. If you saved ₹1.5L via 80C and ₹0.5L via NPS, old regime was preferred(assuming income below ₹50L). Add to that optional 80D medical investments and home loans, and old regime flourished more.

After today, we need to revisit this. The ₹50K standard deduction in old regime is surpassed by ₹52.5K standard deduction in new(applicable only to the ₹15.5L+ salaried people).

One more thing. If you have additional private income other than salary, and opting for 'new' regime, you can't go back to the old regime in future.

 

[rp0703]

for people making more than 20 lacs is new tax regime better or old

What are your deductions like?

 

[Deleted member 9785]

What are your deductions like?

80c, mediclaim, nps

 

[rp0703]

80c, mediclaim, nps

New regime seems beneficial.

 

[Deleted member 9785]

good news

Marginal tax relief for small taxpayers for income exceeding Rs 7 lakh in new tax regime: Budget 2023

The marginal tax relief is available to individual taxpayers whose taxable income exceeds Rs 50 lakh. The Budget 2023 has made amendment under the income tax laws to provide marginal relief to small taxpayers who taxable income exceeds RS 7 lakh, provided they opt for new tax regime.

economictimes.indiatimes.com

 

[Slayer]

good news

Marginal tax relief for small taxpayers for income exceeding Rs 7 lakh in new tax regime: Budget 2023

The marginal tax relief is available to individual taxpayers whose taxable income exceeds Rs 50 lakh. The Budget 2023 has made amendment under the income tax laws to provide marginal relief to small taxpayers who taxable income exceeds RS 7 lakh, provided they opt for new tax regime.

economictimes.indiatimes.com

Where HRA in new regime?

 

[Deleted member 9785]

Where HRA in new regime?

not there

 

[Deleted member 9785]

Any tax benefits in 2024?