KEY HIGHLIGHTS OF BUDGET: PERSONAL INCOME TAX

 KEY HIGHLIGHTS OF BUDGET: PERSONAL INCOME TAX


UNDER NEW TAX REGIME

First 300000 Tax will be Nil
Above 300000 up to 600000 = Tax Amount (300000* 5%=15000)
Above 600000 up to 900000 = Tax Amount (300000*10%=30000)
Above 900000 up to 1200000 = Tax amount (300000*15%=45000)
Above 1200000 up to 1500000 = Tax amount (300000*20%=60000)
Above 1500000 Tax Rate will be 30%

Now relief under 87A will be applicable total income up to Rs 700000

BUDGET 2023-24 : FM

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