Increase in income tax exemption limit among top expectations from Budget: KPMG

Increase in income tax exemption limit among top expectations from Budget: KPMG

New Delhi: As the Finance Minister is set to present the Union Budget for FY23 on February 1, an increase in the annual income limit for exemption of personal income tax is among the top expectations from the budget, shows a survey by KPMG.

The survey showed that 64% of the respondents want the government to raise the limit.

"On the individual tax front, most respondents expect an enhancement in the basic income tax exemption limit of ₹2.5 Lakh. Respondents also support an upward revision in the top income slab of INR 10 lakhs and above, and an increase in the […]

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