Income Tax Return Update: While presenting the financial year 2023, several important announcements were made by Finance Minister Nirmala Sitharaman. In these announcements, the Finance Minister had also announced changes in the tax slabs in the new tax regime. Along with this, if you file tax this year, then take care of your income tax slab.
Income Tax Return: Income tax return filing has started. People can file ITR for the income of FY 2022-23 till 31 July 2023. At the same time, some things have to be kept in mind for filing income tax return. Also, people have to file tax according to their income. In such a situation, today we are going to tell you an important thing about income.
Actually, people’s income has increased a lot in the last few years. At the same time, in private jobs, people also switch jobs for growth. In such a situation, the salary of the people also increases. At the same time, people have to file tax in terms of different salaries.
New tax regime
Presenting the financial year 2023, several important announcements were made by Finance Minister Nirmala Sitharaman. In these announcements, the Finance Minister had also announced changes in the tax slabs in the new tax regime. Along with this, if you file tax this year, then take care of your income tax slab. In such a situation, if your income is less than 10 lakh rupees, then you should also know what slab will be applicable for you.
Income tax slab
If you have to file income tax return under the new tax regime, then 5% on annual income of Rs 3-6 lakh, 10% on annual income of Rs 6-9 lakh, 15% on annual income of Rs 9-12 lakh, 12-15 Annual income of Rs 1 lakh will have to pay 20% income tax and income above Rs 15 lakh will have to pay 30% income tax.
Tax slab
On the other hand, if people below 60 years of age have to file income tax return under the old tax regime, then 5% tax on annual income of Rs 2.5 lakh to Rs 5 lakh, 20% on annual income of Rs 5-10 lakh and Rs 10 lakh 30% income tax will have to be paid on annual income above Rs.
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