Budget 2023 - Income tax slabs changes

[CS Swati Dodhi]

Budget - 2023

Income tax slabs - Changes  in the New Tax Regime

There is no change in the old Tax Regime (As the intention of the government is clear and loud.

INCOME	EARLIER	INCOME	NOW
0-5 LAKH	NIL	0-3 LAKH	NIL
5-7.5 LAKH	10%	3-6 LAKH	5%
7.5 -10 LAKH	15%	6-9 LAKH	10%
10-12.5 LAKH	20%	9-12 LAKH	15%
12.5-15 LAKH	30%	12.5 - 15 LAKH	20%
ABOVE 15 LAKH	30%	ABOVE 15 LAKH	30%

No tax on income up to Rs 7 lakh under new tax regime announced today in Budget speech

There is no change for the old regime. 

COMPARISON CHART:

INCOME	TAX EARLIER	TAX NOW	BENEFIT
RS 7 LAKH	33,800	0	33,800
RS 8 LAKH	46,800	35,000	11,800
RS 9 LAKH	62,400	45,000	17,400