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Middle Class Perspective On Tax | Is The New Tax Regime Beneficial For Middle Class? | Urban Debate
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February 2, 2023
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Feb 2, 202326:12Now PlayingIn this episode of Urban Debate with Shreya Dhoundial, the anchor will be discussing middle class perspectives with the new tax slabs. The Union government, headed by Financial Minister Nirmala Sitaraman presented the Budget for the year 2023. In the new tax regime, which will be the default version, the government has simplified the slabs. There will be no tax on income up to 7 lakh rupees per year, up from 5 lakhs, and the highest applicable tax rate in India after surcharges will be reduced from 42.7 percent to 39 percent. The minister announced a 2.4 lakh crore outlay for railways, the highest in nearly a decade and four times the previous year's budget. Cigarettes, clothing, silver, imitation jewellery, and imported toys will be more expensive, while TVs, mobile phones, and lab diamonds will be less expensive. The guest for this episode, Prosenjit Bose (Economist) said, "The burden of taxation was falling disproportionately on the middle class". Watch the video to know more!
#taxformiddleclass #economistonnewbudget #taxonbudget
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