Union Budget 2023: Government Hikes Tax Exemption On Leave Encashment

India's Finance Minister, Nirmala Sitharaman, today presented the Union Budget 2023, which focuses primarily on developing a technology and innovation driven, self-sufficient economy that will move India closer to Amrit Kaal. During her budget speech, Mrs. Sitharaman proposed to hike the tax exemption on leave encashment on retirement of non-government salaried employees to Rs 25 lakh from Rs 3 lakh.