New Income Tax Slab and Rates 2023 under New Tax Regime

Feb 01, 2023

Rajeev Kumar

FM Nirmala Sitharaman focused on New Tax Regime in her Budget Speech 2023. Take a look at new tax rates under various slabs of New Regime

There will be no tax for individuals with annual taxable income up to Rs 7 lakh under New Regime

No tax on Income Up to Rs 7 lakh

Income up to Rs 3 lakh: No Income Tax

Income of Rs 3-6 lakh: 5% Income tax

Income of Rs 6-9 lakh: 10% Income tax

Income of Rs 9-12 lakh: 15% Income tax

Income of Rs 12-15 lakh: 20% Income tax

Income above Rs 15 lakh: 30%