Deloitte India's Tapati Ghose has said that the attractiveness of the new tax regime may increase the number of employees who opt-in when filing their tax returns for FY23 in India. The regime has been structured with the basic exemption limit raised to INR300,000 and the number of tax slabs reduced to five. Benefits also include increased rebates and a standard deduction. Taxpayers can choose between the new tax regime or the old one on a year-by-year basis for each fiscal year.
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