Budget 2023: Old income tax slab vs new income tax slab
1 year, 10 months ago

Budget 2023: Old income tax slab vs new income tax slab

India Today  

The income tax rebate is the one aspect of the budget that the salaried class looks forward to. Currently, a 5 per cent tax is levied on total income between ₹2.5 lakh and ₹5 lakh, 10 per cent on ₹5 lakh to ₹7.5 lakh, 15 per cent on ₹7.5 lakh to ₹10 lakh, 20 per cent on ₹10 lakh to ₹12.5 lakh, 25 per cent on ₹12.5 lakh to ₹15 lakh, and 30 per cent on above ₹15 lakh. Tax Slabs Old Tax Regime New Tax Regime 0-3 lakh NIL NIL 3-6 lakh 5% NIL 6-9 Lakh 10% 10% 9-12 lakh 15% 15% 12-15 lakh 20% 20% Above 15 lakh 30% 30% NEW TAX SLABS: Up to ₹3 lakh in income would not be subject to tax. Income between 9 and 12 lakh rupees at 15% Income between 12 and 15 lakh rupees at 20% Taxes on income of at least ₹15 lakh would be levied at 30%. Under the previous tax system, income between 2.5 and 5 lakh rupees is subject to a 5% tax rate.

Finance Income Tax Old Cent Lakh Slab  old  budget  income  tax  2023  slab  rs  15  regime  â¹15  subject  cent  vs  system  lakh

History of this topic

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions
1 day, 21 hours ago

Budget 2025: FM should introduce new tax slab for individuals who adopt renewable energy, reduce carbon emissions

Live Mint  

Finance minister Nirmala Sitharaman is set to present her second comprehensive budget after the 2024 general elections. The old tax regime with the regular income slabs and eligible deductions/exemptions and the new tax regime with relatively wider income slabs and lower tax rates, without most deductions/exemptions available in the old tax regime. A unified tax regime with widened income slabs …

It is time India started indexing tax slabs and exemptions with inflation
Trending News
1 month, 1 week ago

It is time India started indexing tax slabs and exemptions with inflation

Live Mint  

NEW DELHI : One of the big stories of the Indian economy has been the sharp increase in personal income tax collections. As the government’s revenue from personal income tax rises, it will likely face greater scrutiny and higher taxpayer expectations regarding the tax system's efficiency, transparency, stability, and fairness. The old tax regime evolved over several decades, allowing individuals …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
5 months ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times  

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

New income tax regime: Check how much tax you will pay now
5 months ago

New income tax regime: Check how much tax you will pay now

India Today  

Finance Minister Nirmala Sitharaman announced key changes to the New Income Tax regime, tweaking tax slabs and increasing the standard deduction. Read Full Budget 2024 Coverage The Finance Minister highlighted that over two-thirds of tax filers chose the new personal income tax regime in the last fiscal year. New Tax Regime after revision The revised tax slabs under the New …

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here
5 months ago

Budget 2024 | Old or new tax regime: Which will be more beneficial for you? Know here

India TV News  

Budget 2024: In the Budget, Finance Minister Nirmala Sitharaman did not make any changes in the old tax regime but increased the exemption limit in the new tax regime, making it more advantageous than before. Proposed tax structure under new tax system 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% Above 15 lakh: …

Budget 2024: How the changes in new tax regime will benefit the salaried, explained
5 months ago

Budget 2024: How the changes in new tax regime will benefit the salaried, explained

Hindustan Times  

Salaried income taxpayers shifting to the new tax regime stand to save up to ₹17,500 in income tax, finance minister Nirmala Sitharaman announced in presenting the Union budget 2024. The finance minister announced increased standard deduction for those opting to file their tax returns under the new regime and also widened the tax slabs to give relief. Increase in the …

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked
5 months ago

Revised income tax slab rates, Budget 2024: Salaried individuals stand to save up to ₹17,500, standard deductions hiked

The Hindu  

Altering the structure for taxation of income under the new regime, Finance Minister Nirmala Sitharaman on Tuesday revised the tax slabs whilst retaining the erstwhile corresponding tax rates other than increasing the standard deductions. The two measures combined, she stated, would provide relief to “about four crore salaried individuals and pensioners.” More under new regime According to Deepashree Shetty, Partner …

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?
5 months ago

Union Budget 2024: Should you pick new tax regime? How can you save Rs 17,500 in income tax every year?

Firstpost  

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced a revision of tax slabs under the new regime. The lowest slab in the new tax regime increased to Rs 3 lakh from Rs 2.5 lakh. The tax structure is proposed to be revised as follows: No tax for those earning up to Rs 3 lakh 5 per cent tax …

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?
5 months ago

Budget 2024: How the new tax regime announced by Sitharaman will impact taxpayers?

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday presented her seventh straight Budget for the fiscal 2024-25. In a significant move, Sitharaman unveiled new income tax slabs under the revised tax regime. Here are the new and old income tax slabs New income tax slabs 0-3 lakh: Nil 3-7 lakh: 5% 7-10 lakh: 10% 1-12 lakh 15% 12-15 lakh 20% …

Calculation: Will you pay more income tax or less after Budget 2024 changes?
5 months ago

Calculation: Will you pay more income tax or less after Budget 2024 changes?

Firstpost  

The government has introduced a simplified tax regime for the fiscal year 2024-25, aimed at streamlining the tax structure to make it more taxpayer friendly. As we move to higher income levels, for the range of Rs 1,500,000 to Rs 5,000,000, the tax rate is set at 30 per cent with an effective tax rate of 31.20 per cent. For …

Old vs proposed income tax slabs under new regime. What has changed?
5 months ago

Old vs proposed income tax slabs under new regime. What has changed?

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday proposed a new tax structure under the new regime. Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty The new tax slabs under the new income tax regime will be effective from April 1, 2024.. Proposed Tax Structure: Income up to ₹ 3,00,000: Nil 3,00,000: Nil ₹ …

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged
5 months ago

Budget 2024 Highlights on income tax: FM Sitharaman revises personal income tax slabs; taxation rates remain unchanged

The Hindu  

Finance Minister Nirmala Sitharaman in her seventh Budget speech on July 23 revised the tax slabs under the new regime. Whilst the rate of taxation remains unchanged, the size of each of the slabs, excluding the initial zero to ₹3 lakh, remains unchanged. Budget 2024-25: Taxes Earlier, the Finance Minister further placed increasing the standard deduction for salaried employees from …

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How
5 months ago

FM Says Salaried Employees Under New Tax Regime To Save Rs 17,500 Annually, Here's How

News 18  

Budget 2024: Salaried employees under new tax regime to save up to Rs 17,500 annually in taxes due to changes proposed in Budget FY25, announced Finance Minister Nirmala Sitharaman on Tuesday. The new tax slabs under the new income tax regime will be effective from April 1, 2024.. FM proposed the following changes in the new tax regime; – Standard …

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know
5 months ago

Budget 2024: Will common man and salaried class get income tax relief? | Here's what we know

India TV News  

Union Budget 2024: The general population, particularly those in the salaried and middle-class brackets, are anticipating significant relief measures from the government through the budget being presented today. They recommend raising the 30 per cent tax slab to apply on income exceeding Rs 20 or 25 lakh, instead of the current Rs 15 lakh limit. Additionally, there is a call …

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here
5 months ago

New tax regime slabs revised, standard deduction hiked to Rs 75,000. Details here

India Today  

Finance Minister Nirmala Sitharaman revamped income tax slabs under the new regime in Union Budget 2024 in a bid to make it more attractive. The Finance Minister said that the tweaked tax slabs would save salaried individuals Rs 17,500 annually under the new regime. The updated tax slabs are as follows: income up to Rs 3 lakh will be taxed …

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23
5 months ago

Budget 2024: Taxpayers, you can expect these 6 income tax benefits on July 23

Hindustan Times  

Finance minister Nirmala Sitharaman is set to present the Union Budget on July 23. Taxpayers are expecting a potential hike in standard deduction, relief in income tax rates and an increase in Section 80C exemptions in the Budget. Experts believe that adjustments to income tax slab rates could be seen in the Budget as the Finance Minister might announce tax …

Budget 2024: What income tax benefits can taxpayers expect on July 23?
5 months, 1 week ago

Budget 2024: What income tax benefits can taxpayers expect on July 23?

India Today  

Taxpayers are eagerly waiting for July 23 when Finance Minister Nirmala Sitharaman will present the full budget for the ongoing financial year. Income tax exemption limit There is speculation that the government may raise the income tax exemption limit from Rs 3 lakh to Rs 5 lakh. If implemented, individuals earning up to Rs 8.5 lakh annually could potentially pay …

Budget 2024: This change to old income tax regime can provide relief to millions
5 months, 1 week ago

Budget 2024: This change to old income tax regime can provide relief to millions

India Today  

Finance Minister Nirmala Sitharaman is set to present the Union Budget 2024 on July 23, and as usual, a key demand amongst citizens is for tax relief. While reports indicate that the government may introduce measures to enhance the appeal of the new income tax regime, taxpayers are also hoping for a revamp of the old regime, which offers the …

Union Budget 2024: Will Nirmala Sitharaman bring income tax relief for middle class?
5 months, 2 weeks ago

Union Budget 2024: Will Nirmala Sitharaman bring income tax relief for middle class?

Hindustan Times  

With the Union Budget 2024 scheduled to be presented on July 23, 2024 by Finance Minister Nirmala Sitharaman, income tax slabs are an important component that has been getting a lot of attention lately, with reports suggesting there may be potential tax cuts for boosting consumption in the economy. The current slabs for the new tax regime are as follows: …

Budget 2024: Low-income individuals likely to get big tax relief, says report
6 months ago

Budget 2024: Low-income individuals likely to get big tax relief, says report

India Today  

The government is considering significant tax cuts for lower-income individuals in the upcoming Budget 2024, marking the first such relief in seven years, reported Bloomberg. Lower tax rates, new tax slabs Salaried taxpayers earning between Rs 5 lakh and Rs 15 lakh annually, currently taxed at rates ranging from 5% to 20% under the new income tax regime, could benefit …

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report
6 months, 1 week ago

Budget 2024: Exemption limit under new tax regime may be hiked to Rs 5 lakh, says report

India Today  

The government plans to raise the income exempt from tax under the new regime from the current Rs 3 lakh to Rs 5 lakh in the forthcoming full budget, reported moneycontrol.com. Officials also said that the government is unlikely to accept a proposal from industry representatives to lower the top individual income tax rate from 30% to 25% in the …

Budget 2024: Which income categories can expect tax relief?
6 months, 1 week ago

Budget 2024: Which income categories can expect tax relief?

India Today  

The government is considering a reduction in tax rates for specific categories of salaried individuals, aimed at boosting consumption, reported news agency Reuters. The reduction in tax rates could be part of the upcoming budget announcement in July by Finance Minister Nirmala Sitharaman, the report said, citing two government officials. Potential tax relief The anticipated tax relief could benefit individuals …

New Tax regime rules to come into effect from today: Check deductions, rebates, changes in tax slab
8 months, 3 weeks ago

New Tax regime rules to come into effect from today: Check deductions, rebates, changes in tax slab

India TV News  

As the new financial year begins on April 1, there will be changes to India's income tax regulations. The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system. The tax slabs will …

Major Income Tax Reforms Effective From April 1: What You Need To Know
9 months ago

Major Income Tax Reforms Effective From April 1: What You Need To Know

ABP News  

In the wake of the new fiscal year, April 1, 2024, sweeping changes in the tax landscape herald major implications for personal finances. Streamlined Slabs & Expanded Basic Exemption Limit Under the new tax regime, the minimum tax threshold has been raised from Rs 2.5 lakh to Rs 3 lakh. Increased Tax Rebate Threshold Individuals opting for the new tax …

Budget 2024: No change in tax regime this year; check old, new tax slabs
10 months, 3 weeks ago

Budget 2024: No change in tax regime this year; check old, new tax slabs

India TV News  

Union Finance Minister Nirmala Sitharaman, during the presentation of the interim Budget on Thursday, announced that there would be no changes to taxation, and she proposed to retain the same direct and indirect tax rates, including import duties. Income between Rs 3-6 lakh taxed at 5 per cent. Income between Rs 6-9 lakh taxed at 10 per cent. Income between …

Budget 2024: 6 key changes taxpayers want from FM Sitharaman
10 months, 3 weeks ago

Budget 2024: 6 key changes taxpayers want from FM Sitharaman

India Today  

Finance Minister Nirmala Sitharaman is set to present the Interim Budget 2024-25 on February 1, covering the initial three months of the next fiscal year. While hopes for a new 25 per cent high-income tax slab are slim, expectations include increased basic exemption, standard deduction, and higher limits for 80C & 80D," Ravi said. NPS deduction under new tax regime …

Budget 2024: Old vs new tax regime, which is better for salaried employees?
10 months, 3 weeks ago

Budget 2024: Old vs new tax regime, which is better for salaried employees?

Hindustan Times  

The new tax regime was introduced in Union Budget 2020 under which the tax slabs were altered and taxpayers were offered concessional tax rates. In Union Budget 2023, the government introduced crucial changes to encourage taxpayers to adopt the new tax regime. This implies that taxpayers with income up to ₹7 lakhs will not have to pay any tax at …

Interim Budget 2024: Will new income tax regime get another makeover?
10 months, 4 weeks ago

Interim Budget 2024: Will new income tax regime get another makeover?

India Today  

As Finance Minister Nirmala Sitharaman gears up to announce the Interim Budget 2024-25, the new income tax regime is in focus again. Deduction for interest on housing loans Salaried individuals with housing loans are cautious about shifting to the new tax regime due to the potential loss of home loan interest deductions. Abhishek Soni suggests that extending the deduction for …

More Than 5 Crore Taxpayers Opt for New Tax Regime 2023
1 year, 4 months ago

More Than 5 Crore Taxpayers Opt for New Tax Regime 2023

News 18  

Finance Minister Nirmala Sitharaman announced income tax relief, especially for those with salaried incomes in the 2023-24 Budget. The new tax regime grants tax exemption for income between 0 to 3 lakh rupees. Individuals earning income ranging between Rs 3 to 6 lakh are taxed at a 5 per cent rate, while those between 6 to 9 lakh face a …

Which income tax regime should salaried employees choose? Details here
1 year, 8 months ago

Which income tax regime should salaried employees choose? Details here

Hindustan Times  

With the onset of new financial year on April 1, several new income tax laws like the new tax regime being set as the default one to the increase in the tax rebate limits, came into effect. Under the new tax regime, an individual with an annual income of up to ₹ 7 lakh would not be required to pay …

10 Income Tax Rules That Are Changing From April 1, 2023
1 year, 8 months ago

10 Income Tax Rules That Are Changing From April 1, 2023

News 18  

The income tax laws have undergone numerous changes, and they will take effect this fiscal year. Some of the main changes that will take effect on April 1, 2023, include raised tax rebate limits, changes to income tax slabs, and the elimination of the LTCG tax benefit on certain debt mutual funds. Let’s examine the changes:- 1) New income tax …

From Apr 1, these 10 big income tax rule changes to be effective. Details
1 year, 8 months ago

From Apr 1, these 10 big income tax rule changes to be effective. Details

Hindustan Times  

The new financial year 2023-24 will begin on April 1 and the announcements made by Union finance minister Nirmala Sitharaman in the annual Feb 1 Union budget will come into effect as soon as FY23 kicks in. Representational Image Here are, therefore, the 10 major income tax rule changes effective from April 1: Default tax regime: As announced by the …

New tax regime, rules to roll out from Apr 1. Here’s what taxpayers need to know
1 year, 8 months ago

New tax regime, rules to roll out from Apr 1. Here’s what taxpayers need to know

Live Mint  

The tax rates which a taxpayer needs to pay on their income and income from other sources will be changing from April 1st, 2023. The updated income tax slab for the new tax regime will be as follows: - Above ₹15 lakh income, the tax rate would be 30% - Between ₹12 lakh to ₹15 lakh income, the tax rate …

FM says new tax regime has been made \'very attractive\'
1 year, 10 months ago

FM says new tax regime has been made \'very attractive\'

Deccan Chronicle  

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said that the government chose the capital expenditure route to revive the economy as it has a great multiplier effect. She also said the new tax regime has been made “very attractive”, emphasising on moderation in personal taxes for the middle classes in the country. “In the new tax regime, offering a …

Annual income above Rs 10 lakh? Find out which income tax regime suits you better
1 year, 10 months ago

Annual income above Rs 10 lakh? Find out which income tax regime suits you better

India Today  

The Union Budget 2023 came up with a big boost for taxpayers. The following proposals have been made for the new tax regime to reduce the burden on taxpayers: Rebate under Section 87A can be claimed by people with annual income up to Rs 7 lakh No tax for income up to Rs 3 lakh Highest surcharge rate reduced from …

How taxes are calculated on salary above ₹7 lakh in new regime? A quick view
1 year, 10 months ago

How taxes are calculated on salary above ₹7 lakh in new regime? A quick view

Live Mint  

One of the biggest limelight of the Budget 2023 is none other than personal income tax slabs which have been modified further and are likely to boost consumption demand. - The income Tax rebate limit is increased to ₹7 lakh from ₹5 lakh - The surcharge rate is slashed to 25% from 37% under the new tax regime. The income …

Budget 2023: What are the changes in new tax regime? Expert explains
1 year, 10 months ago

Budget 2023: What are the changes in new tax regime? Expert explains

Hindustan Times  

Union finance minister Nirmala Sitharaman said the new tax system will be the default, with the old system remaining an option. Presenting the last full budget of the Narendra Modi government before the 2024 Lok Sabha election, Sitharaman raised the income tax rebate cap under the new tax system from ₹5 lakh to ₹7 lakh. Hindustan Times spoke to Abhishek …

New Tax System Less Complicated…Every Indian Should Make A Choice: FM to News18
1 year, 10 months ago

New Tax System Less Complicated…Every Indian Should Make A Choice: FM to News18

News 18  

Terming the new tax system “better" and “least complicated", Union Finance Minister Nirmala Sitharaman, speaking exclusively to Rahul Joshi, Group Editor-in-Chief, Network18, two days after she presented Budget 2023-24 in Parliament on February 1, said the government has not set a timeframe for the new regime. I believe at least 50% people will shift": FM #NirmalaSitharaman on New Tax Regime …

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference
1 year, 10 months ago

Rebate Rate Hike, Slab Changes Applicable Only In New Tax Regime: Know The Difference

Live Law  

In her Budget 2023-24 speech, Union Finance Minister Nirmala Sitharaman has announced that the increase in the income tax rebate limit from Rs. Slab Rates Under New Tax Regime The new tax rates are : 0-3L: nil 3-6L: 5% 6-9L: 10% 9-12L: 15% 12-15L: 20% above 15L: 30% Slab Rates Under Old Tax Regime Up to 2,50,000: Nil 2,50,001 – …

Income tax clarity day after Budget 2023: Which scheme works best for you
1 year, 10 months ago

Income tax clarity day after Budget 2023: Which scheme works best for you

India Today  

As the dust settles a day after Union Budget 2023, it becomes easier to decide if one should opt for the new or the old income tax regime. One thing that is clear is that in the new income tax scheme, a person with an annual income of up to Rs 7.5 lakh can get away without paying any tax. …

Union Budget: Middle class cheers, pensioners disappointed
1 year, 10 months ago

Union Budget: Middle class cheers, pensioners disappointed

Hindustan Times  

Union finance minister Nirmala Sitharaman’s announcement of exemption of tax for those earning an yearly income of ₹7 lakh has brought cheers to the middle class in the city, while pensioners feel disappointed as there has been no improvement in the rates under the old tax regime. In her Budget presentation on Wednesday, Sitharaman increased the income tax rebate limit …

Budget 2023: New vs Old Income Tax Regime
1 year, 10 months ago

Budget 2023: New vs Old Income Tax Regime

News 18  

Union Budget 2023 has amended income tax slabs for the new tax regime and has increased rebate under Section 87A for the new regime for income up to Rs7 lakh. While these amendments have been made in the new tax regime, all tax slabs and rebates under Section 87A for income tax assesses opting for the old tax regime remain …

Opt new tax regime if deduction, exemption claims less than Rs 3.75 lakh: Official
1 year, 10 months ago

Opt new tax regime if deduction, exemption claims less than Rs 3.75 lakh: Official

India Today  

A taxpayer whose deductions and exemption claims are less than Rs 3.75 lakh annually would be advised to opt for the new income tax regime and pay less tax than they gave in the old regime, a senior finance ministry officer said Wednesday. According to the changes proposed in the Budget, no tax would be levied on people with an …

Explained: How Union Budget has given India’s middle class much to rejoice
1 year, 10 months ago

Explained: How Union Budget has given India’s middle class much to rejoice

Firstpost  

‘Amrit Kaal’s first Budget’ has brought the much-awaited income tax reliefs for the country’s salaried middle class. In a much-awaited respite, the government increased the income tax rebate limit from Rs 5 lakh to Rs 7 lakh in the new tax regime. Here are the new tax rates under the new tax regime: For Rs 0-3 lakh income – nil …

Rebate Limit, New Income Slabs, Standard Deduction — Understanding What Taxpayers Have In Budget 2023
1 year, 10 months ago

Rebate Limit, New Income Slabs, Standard Deduction — Understanding What Taxpayers Have In Budget 2023

ABP News  

Finance Minister Nirmala Sitharaman presented Narendra Modi government’s last full Budget announcing a host of concessions for the middle class as expected. The six key announcements pertaining to personal income tax in the Budget are: Individuals earning up to Rs 7 lakh per annum will not have to pay any tax, under the new tax regime. Old tax regime still …

New income tax regime overhaul, Rs 2.4 L cr for railways among 5 big announcements by FM Niramala Sitharaman
1 year, 10 months ago

New income tax regime overhaul, Rs 2.4 L cr for railways among 5 big announcements by FM Niramala Sitharaman

India Today  

Union Finance Minister Nirmala Sitharaman presented Union Budget 2023 in Parliament on Wednesday and her proposals come at a time when India’s economy is facing challenges from a plethora of global factors, including inflation and a possible GDP growth slowdown in FY24 as predicted by the International Monetary Fund in its January update of the World Economic Outlook. The Top …

Budget 2023: How the new tax regime is different from the existing one
1 year, 10 months ago

Budget 2023: How the new tax regime is different from the existing one

Hindustan Times  

A look at the old and new income tax slabs. Those individuals with income between ₹5 lakh and ₹7 lakh had to pay 10 per cent tax. The tax payers earning between ₹7.5 lakh and ₹10 lakh had to pay 15 per cent income tax. Those earning between ₹3 lakh and ₹6 lakh will have to pay 5 per cent …

What Budget document tells us about new Income Tax slab
1 year, 10 months ago

What Budget document tells us about new Income Tax slab

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday made as many as five announcements related to personal income tax, as she presented Union Budget for the financial year 2023-24. Changes have been made only to the new tax regime, while the old one has been left untouched One of the announcements made by Sitharaman on personal income tax – there was none …

Budget 2023: How much income tax do you pay now under new tax regime? Quick guide
1 year, 10 months ago

Budget 2023: How much income tax do you pay now under new tax regime? Quick guide

India Today  

Finance Minister Nirmala Sitharaman on Wednesday revised the existing income tax slabs to provide some relief to the salaried class by announcing that no tax would be levied on annual income of up to Rs 7 lakh under the new tax regime. As per the new tax structure, income between Rs 3-6 lakh would be taxed at 5 per cent; …

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