#Incometax trends on Twitter after Nirmala Sitharaman’s Budget 2023 speech. Best memes
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in Parliament today. This year’s budget comes at a time when India’s economy is facing challenges due to global factors; A steep rise in inflation and possible GDP growth slowdown in FY2024.
No #IncomeTax upto 7 Lakh,
Guys with Package upto 6 lakh : pic.twitter.com/TToBgVg85V
— g0v!ñD $#@®mA (@rishu_1809) February 1, 2023
— MSDIAN 🦁🇮🇳 (@MSD_077) February 1, 2023
— Mohd Ahtisham Ahsan (@MohdAhtishamAh1) February 1, 2023
— ANSH 🇮🇳 (@Ansh2_) February 1, 2023
However, the finance minister has announced some relief for taxpayers as he has proposed a new tax bill under which the income tax exemption limit has been raised from Rs 5 lakh to Rs 7 lakh. “In 2020, I introduced a new personal income tax system with 6 income brackets starting from Rs 2.5 lakh. I propose to change the tax structure by reducing the number of slabs to 5 and increasing the tax exemption limit to Rs 3 lakh in this regime,” he said.
#Incometax occupied one of the top spots on Twitter as the micro-blogging site was flooded with memes and reactions. People pointed out that this budget is a relief to the middle class.
Changes in income tax slabs #Budget2023 pic.twitter.com/2w70yti12V — Sagar (@sagarcasm) February 1, 2023