Budget 2023 updates: From MSMEs to new co-operatives, 5 key changes in direct tax structure

The Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman announced several Direct Tax proposals with an aim to maintain continuity and stability of taxation, further simplify and rationalize various provisions to reduce the compliance burden, promote the entrepreneurial spirit and provide tax relief to citizens. While presenting the Union Budget 2023-24 in Parliament today she stated that “It has been the constant endeavour of the Income Tax Department to improve Tax Payers Services by making compliance easy and smooth”.

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