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How much Tax should u pay as per New Regime?
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👉No tax would be levied on annual income of up to ₹7 lakh.
👉Under the new tax bracket, income between ₹3-6 lakh would be taxed at 5% while those earning between ₹6-9 lakh will be taxed at 10%.
👉Those in the ₹9-12 lakh bracket will incur 15 % tax while those earning between ₹12-15 lakh will be taxed at 20%. Income of ₹15 lakh and above will be taxed at 30%.
👉Budget 2023 indicates that individuals will not have to pay taxes fi the taxable income does not exceed ₹7 lakh.
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