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Budget 2023: No tax on income up to Rs 7 lakh, revised tax slabs for new regime

The highest surcharge rate has also been reduced from 37 percent to 25 percent in the new tax regime.

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Budget 2023

In a major announcement, Finance Minister Nirmala Sitharaman has proposed to increase the tax rebate from Rs 5 lakh per annum to Rs 7 lakh per annum under the new tax regime. This means that individuals earning up to Rs 7 lakh are exempt from paying tax.

Standard Deduction under New Tax Regime for individuals with income up to Rs 15 lakh will be Rs 52,400, says FM Sitharaman. The highest surcharge rate has also been reduced from 37 percent to 25 percent in the new tax regime.

Sitharaman, who presented the last full budget of the BJP-led government before the next parliamentary elections in 2024, said the new tax regime will be a default tax regime and citizens will continue to reap the benefits of the old regime.

Read Also: Budget 2023: Defence budget hiked by 12.95 percent to Rs 5.94 lakh crore

Revised tax slabs under the new tax regime:

  • Income up to Rs 3 lakh: Nil
  • Income above Rs 3 lakh and up to Rs 6 lakh will be taxed at 5 percent.
  • Income above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 percent.
  • Income more than Rs 12 lakh and up to Rs 15 lakh will be taxed at 20 percent.
  • Income over Rs 15 lakh will be taxed at 30 percent.

The finance minister also proposed to hike tax exemption on leave encashment on the retirement of non-government salaried employees to Rs 25 lakh from Rs 3 lakh.

Income tax budget highlights

  • An individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000. This is only 5 percent of his or her income. It is a reduction of 25 percent on what he or she is required to pay now, ie, Rs 60,000.
  • Similarly, an individual with an income of Rs 15 lakh would be required to pay only Rs 1.5 lakh or 10 percent of his or her income, a reduction of 20 percent from the existing liability of Rs 1,87,500.
  • Each salaried person with an income of Rs 15.5 lakh or more will thus stand to benefit by Rs 52,500.

Budget 2023: Middle class woes memes flock the social media platforms

Budget 2023: Adequate funds allocated for replacing old government vehicles, says Nirmala Sitharaman

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New UP Congress chief Aradhana Mishra backs stronger alliance with SP 

Newly appointed UP Congress chief Aradhana Mishra said the party would strengthen its alliance with the Samajwadi Party ahead of the 2027 Assembly election.

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Newly appointed Uttar Pradesh Congress president Aradhana Mishra, also known as Mona, has said the party will take its alliance with the Samajwadi Party forward with full strength ahead of the 2027 Uttar Pradesh Assembly election.

Mishra, the daughter of Congress MP Pramod Tiwari, has been given the responsibility of leading the party’s state unit as Congress prepares for the assembly polls due in around six months, according to the report.

Speaking about Samajwadi Party chief Akhilesh Yadav, Mishra described the SP as a strong partner of the Congress in the INDIA bloc.

“The Samajwadi Party is a partner of ours in the INDIA bloc, and a strong one at that,” she said, while praising the way Akhilesh Yadav has strengthened his party.

Aradhana Mishra backs Congress-SP alliance

Mishra referred to the performance of the INDIA bloc in the 2024 Lok Sabha election in Uttar Pradesh while discussing the alliance’s prospects for the next assembly election.

The INDIA bloc won 43 of Uttar Pradesh’s 80 Lok Sabha seats in the 2024 election, according to the report.

Mishra said the alliance had stopped the BJP’s advance in Uttar Pradesh in the 2024 Lok Sabha election and expressed confidence that the partnership would produce results in the 2027 Assembly election.

“We will take this alliance forward with full strength,” she said.

The new state Congress chief will also have to advance seat-sharing discussions with the Samajwadi Party. The report said Congress wants a larger share of seats, while the SP has not indicated a willingness to give ground, arguing that it is in a stronger position in the state.

Congress announces new UP team

The leadership change is part of a wider organisational reshuffle by the Congress in Uttar Pradesh.

Along with appointing Mishra as state Congress president, the party named Rajya Sabha MP Imran Masood as working president. Chaudhary Virendra Singh was appointed Leader of the Congress Legislature Party.

Devinder Nishad and Alok Prasad were also appointed senior vice presidents of the Uttar Pradesh Congress Committee.

The new appointments bring different social groups into prominent positions in the state organisation. Mishra is a Brahmin, Masood is a Muslim and Rajendra Pal Gautam, the Congress’ AICC in-charge of Uttar Pradesh, is a Dalit, the report said.

Mishra, however, said the Congress does not practise caste or religion-based politics.

She said the party wanted to strengthen the country, protect the Constitution and build a strong alternative ahead of the 2027 election.

Mishra’s challenge ahead of 2027 polls

As the new Uttar Pradesh Congress chief, Mishra will be responsible for strengthening the party’s organisation in the state while also taking forward its alliance with the Samajwadi Party.

The Congress and SP are part of the INDIA bloc in Uttar Pradesh. With seat-sharing discussions ahead of the 2027 Assembly election, Mishra’s comments indicate that the Congress intends to continue working with the Samajwadi Party.

The appointment of Mishra comes alongside other organisational changes aimed at preparing the party for the upcoming assembly election.

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CJP announces October 10 Delhi protest against Gyanesh Kumar

CJP leader Abhijeet Dipke has announced a protest at Jantar Mantar on October 10, demanding the resignation of Chief Election Commissioner Gyanesh Kumar.

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Cockroach Janta Party (CJP) leader Abhijeet Dipke has announced a fresh protest at Delhi’s Jantar Mantar on October 10, saying the demonstration will be held if Chief Election Commissioner Gyanesh Kumar does not resign.

Dipke made the announcement after a CJP demonstration at Mumbai’s Shivaji Park. He called on people from across the country to join the proposed Delhi protest, describing it as a peaceful agitation.

Abhijeet Dipke’s October 10 protest call

In a post on X, Dipke said CJP supporters would march to Delhi and hold a protest at Jantar Mantar if Kumar did not step down. He also said that if Delhi Police stopped the protesters, the location where they were stopped would become their protest site.

The CJP leader had earlier warned of a larger agitation while addressing the gathering at Shivaji Park. He said that if the Chief Election Commissioner did not resign, the movement would expand to Delhi.

CJP’s allegations against the Election Commission

During the Mumbai protest, Dipke alleged irregularities in electoral rolls and questioned decisions concerning the election process. He claimed that 13 crore voters had been deleted over two years and alleged that voter deletions had affected electoral outcomes in several states.

These claims were made by Dipke while addressing the protesters and were not presented in the report as independently established facts.

He also alleged that voters were deleted from constituencies in Delhi, Tamil Nadu and West Bengal and linked these alleged deletions to election results.

The CJP leader further criticised the proposed simultaneous elections framework, alleging that the ruling BJP’s objective was “One Nation, One Election, One Party”.

CJP demands Gyanesh Kumar’s resignation

CJP leaders have been demanding the resignation of Chief Election Commissioner Gyanesh Kumar and have also called for criminal proceedings against him.

The group has criticised the Election Commission over the Special Intensive Revision of electoral rolls and has demanded changes to the law governing the appointment of Election Commissioners.

The Election Commission, however, has said that decisions of the three-member poll body, including those concerning the SIR exercise, were taken unanimously.

Protest at Mumbai’s Shivaji Park

The October 10 Delhi announcement followed a CJP demonstration at Mumbai’s Shivaji Park. The protest was held despite police denying permission for the event, according to the report.

Several groups and individuals participated in the demonstration. The Shiv Sena (UBT) had also extended support to the CJP’s agitation.

Dipke said the CJP would continue its campaign and called for the proposed October 10 demonstration in Delhi under the slogan “Chalo Delhi”.

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700 detained as Delhi, Mumbai see protests against Gyanesh Kumar

More than 700 protesters were detained in Delhi during demonstrations demanding Chief Election Commissioner Gyanesh Kumar’s resignation, while thousands gathered for a separate protest in Mumbai.

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More than 700 protesters were detained in Delhi on Friday during demonstrations demanding the resignation of Chief Election Commissioner Gyanesh Kumar over alleged irregularities related to the electoral rolls and the Special Intensive Revision (SIR).

The AAP, Congress and Left-linked groups were among those participating in the protest at Jantar Mantar. Senior AAP leaders, including Atishi and Saurabh Bhardwaj, were detained by the police.

Police had denied permission for the demonstration and imposed restrictions in the New Delhi district. According to police, the protesters were taken to different police stations outside the New Delhi area and were to be released after necessary paperwork and legal formalities.

Why are protesters targeting Gyanesh Kumar?

The demonstrations have centred on the Election Commission and the SIR exercise, which has involved the revision of electoral rolls and the removal of voters described in the report as “inactive”.

The demand for Gyanesh Kumar’s removal intensified after reports that Election Commissioners Sukhbir Singh Sandhu and Vivek Joshi had objected to several decisions taken by the Election Commission.

The Election Commission has denied wrongdoing in the SIR process and said that differing views among election commissioners are normal.

Protests in Mumbai

In Mumbai, the Cockroach Janta Party held a large demonstration at Shivaji Park despite police denying permission for the rally.

Thousands of people gathered at the venue, with police deploying additional personnel and putting up barricades on routes leading from nearby areas. Protesters carried the national flag and placards demanding Gyanesh Kumar’s resignation.

The protest was held on the birth anniversary of Mahatma Gandhi. CJP founder Abhijeet Dipke addressed the gathering and described the demonstration as a tribute to Gandhi.

Protests reported in other cities

Apart from Delhi and Mumbai, demonstrations were also reported in Jaipur and Ahmedabad.

In Jaipur, AAP workers protested over the SIR process and clashed with police, according to the report. Senior party leaders later submitted a memorandum to the governor.

A demonstration was also held outside Gujarat University in Ahmedabad, with protesters demanding Gyanesh Kumar’s resignation.

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