Changes in financial landscape you need to know this FY April 2023
A new financial year is upon us. The start of a financial year is a good occasion to look at your investments and financial goals. Whether you have a loan or plan to take one, keep an eye on the RBI policy announcement. There are major changes in tax rules, in the withdrawal policy from the National Pension System (NPS), and for investments in post-office schemes and more. 1 Income-tax rule changes for Financial Year 2023-24 Effective April 1,2023, several changes will affect taxpayers in India because of the income-tax changes announced in Budget 2023. Some of the significant changes are as follows: The new regime will be the default one, if a person does not state which regime they will submit their returns under. The rebate limit has been increased from Rs 5 lakh to Rs 7 lakh under the new regime. New income-tax slabs under the minimal exemptions regime will also come into force from April 1. Leave travel allowance encashment limit was raised from Rs 3 l