Articles

Friends, as the final countdown to the Union Budget 2023 begins, without resorting to some abstract or wishful thinking, our Founder Shri Mayank Mohanka, FCA, has done a practical and ground level assessment of some critical grey areas and gaps in the direct tax domain, which require timely redressal by the Legislature in the upcoming Union Budget 2023. These are being discussed below, and we sincerely hope that you will relate to these real and ground-level problematic areas.

1. Allowing Deductions in respect of Standard Deduction & Interest on Home Loan in New Personal Taxation Regime in Section 115BAC

Currently, the individuals & HUFs opting for the new personal taxation regime u/s 115BAC of reduced personal tax .