Budget Session 2024: As Budget 2024 approaches, individual taxpayers are eagerly awaiting potential changes, especially in the limits of various exemptions and deductions. While traditionally these have been the key areas of interest, the current government’s focus on a simplified tax regime with minimal exemptions and deductions has left many wondering if it is now time to adjust their expectations. Should taxpayers now look to the new tax regime for relief? In this context, understand what is tax, how does tax work, what is the ABCD of tax
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