Income Tax: While presenting the Budget 2023, Finance Minister Nirmala Sitharaman informed about an important change. Under this change, Finance Minister Nirmala Sitharaman announced the change in income tax slab under the new tax regime. At the same time, no one had even thought about this important change during the budget.
Income Tax Slab: Many changes are taking place in the country. Along with this, the new financial year has also started as soon as April 1 comes. At the same time, along with the new financial year, many important changes affecting the people have also come into force. These changes also include such a change, which was announced by Finance Minister Nirmala Sitharaman and it is going to affect the people of whole India. Let’s know about this change…
Tax regime
In fact, while presenting the Budget 2023, Finance Minister Nirmala Sitharaman was aware of an important change. Under this change, Finance Minister Nirmala Sitharaman announced the change in income tax slab under the new tax regime. At the same time, no one had even thought about this important change during the budget.
Income tax slab
The income tax slab changed in the new tax regime through the Finance Minister will affect all Indians. Along with this, Indian taxpayers who will pay tax under the new tax regime will also get the benefit of standard deduction. The Finance Minister had also told that from now on the new tax regime will be the default tax regime.
Income Tax
Now the new tax regime has been implemented from April 1. In this, no tax will have to be filed on annual income of Rs 3 lakh. After this, 5% tax will have to be paid on annual income of 3-6 lakhs. However, people will also get rebate on annual income up to Rs 7 lakh. Due to which people will not have to pay any tax up to Rs.7 lakh.
Income tax rate
On the other hand, people with an annual income of Rs 6-9 lakh will have to pay 10 percent tax. On the other hand, people with an income of Rs 9-12 lakh will have to pay 15 per cent tax. On the other hand, people with an income of Rs 12-15 lakh will have to pay 20 per cent tax. Apart from this, those who have annual income above Rs 15 lakh will have to pay 30% income tax.
