On 1 February 2023, India's Minister of Finance Nirmala Sitharaman delivered the Budget for 2023-2024. Some of the main direct tax measures include:

• A change in the default personal income tax regime so that the new (optional) personal income tax regime introduced in 2020 is made the default regime with the following brackets/rates, while individuals may still opt for the old regime:
  • up to INR…