The Revised Income Tax Rates and Slabs under the new Tax Regime announced by Finance Minister Nirmala Sitharaman:
1. No Taxes:
- Up to ₹3 lakh annual income.
2. 5% Tax Rate:
- Income between ₹3 lakh and ₹7 lakh.
3. 10% Tax Rate:
- Income between ₹7 lakh and ₹10 lakh.
4. 15% Tax Rate:
- Income between ₹10 lakh and ₹12 lakh.
5. 20% Tax Rate:
- Income between ₹12 lakh and ₹15 lakh.
6. 30% Tax Rate:
- Annual income of ₹15 lakh and above.
Salaried employees in the new tax regime stand to save up to ₹17,500 in income tax. These changes aim to simplify tax calculations and reduce disputes. Remember to consider your income level and preferences when choosing the tax regime that suits y
ou best! 💰📊🇮🇳.
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