Income Tax: How much tax will be applicable on your earnings | Jagran Business- Watch Video

Income Tax Slab Change in 2023-24: Finance Minister Nirmala Sitharaman has announced major changes in the Income Tax Slab under the new tax regime. Under this new tax regime, the Income Tax Slab Rates slab has been changed. Now taxpayers will have to pay tax under the new slab.

Increased exemption in new tax slab Finance Minister Nirmala Sitharaman has announced in Budget 2023 that no tax will be levied on income up to Rs 7 lakh under the new tax regime. That is, the tax rebate has been increased. Earlier this rebate was available up to Rs 5 lakh. Now it has been increased to Rs 7 lakh. Salaried people will get benefit from this. Learn about it in more detail here.

New tax slab 2023-24

0 to 3 lakh	Zero
3 to 6 lakh	5 percent
6 to 9 lakh	10 percent tax
9 to 12 lakh	15% tax
12 to 15 lakhs	20 percent