Out with the old, in with the new. Budget 2023 has made the government’s intentions very clear with its revamping of the new tax regime. It is gradually moving towards purging the tax system of the vexing web of deductions and exemptions that defines the old tax regime. It wants to free taxpayers from the yearly ritual of running pillar-to-post for availing whatever tax benefits they can get their hands on. In its place, it will tempt taxpayers with a more simplified tax regime with lower rates, ..
