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Budget 2023: Analysing the good and bad parts

Maximum surcharge rate on income tax has been cut from 37% to 25% and if your income is below 7 lakhs per annum, you pay no tax.

Post Office Monthly Income Plan deposit limit has been raised to 9 lakhs for a single account and 15 lakhs for a joint account.

Women have been given a new small-savings scheme where 2 lakhs can be invested until March 31, 2025.

Insurance option now comes with a cap of 5 lakhs annual premium and all receipts will be added to the taxable income (except for death settlement).


Remittance abroad of more than 7 lakhs per year will be taxed at 20%, unless for education or medical purposes.


Senior citizen savings scheme deposit limit has been doubled to 30 lakhs.

Educate yourself to invest smartly and consider trusting an experienced financial advisor for help if needed.

Click here to know more key budget highlights.

Check here for more budget related stories.


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Budget 2023: Analysing the good and bad parts

The Union Budget has been introduced with lower taxes, zero rebates and higher deposit limits for senior citizens. However, there are some new restrictions in place to limit investments and remittances abroad.

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