Budget 2023 - An Estimate of Your Current Income Needs

Written by Himanshu

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REBATE EXTENDED

New tax regime extends income tax rebate to Rs 7 lac, Nirmala Sitharaman said

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SLABS & EXEMPTION LIMIT

In the new tax regime, there are five slabs instead of six. Tax exemption limit under new tax regime is Rs 3 lac. 

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new tax rates

Nirmala Shitaraman announced the new tax rates under the new regime

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rs 0-3 lacs

Tax rate - Nil

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rs 3-6 lacs

Tax rate - 5%

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rs 6-9 lacs

Tax rate - 10%

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rs 9-12 lacs

Tax rate - 15%

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rs 12-15 lacs

Tax rate - 20%

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above 15 lacs

Tax rate - 30%