Budget 2023-24: New Income Tax Rates for Businessmen, AOPs
The amended Finance Bill 2023 has increased income tax on the income of individuals and association of persons (AOPs).The revised slabs for the individuals/AOPs revealed that where taxable income exceeds Rs. 600,000 but does not exceed Rs. 800,000, the rate of tax would be 7.5% of the amount exceeding Rs.…