Big exemption in income tax, now no tax will have to be paid on earning up to Rs 7 lakh!

Budget 2023 New Tax Slab:

Now the new tax slab will be like this Income: 0 to three lakhs Tax according to the New tax slab: 0%

Income: 3 to 6 Lakh Tax according to the New tax slab: 5 percent

Income: 6 to 9 Lakh Tax according to the New tax slab: 10 percent

Income: 9 to 12 lakhs Tax according to the New tax slab: 15 percent

Income: 12 to 15 lakhs Tax according to the New tax slab: 20 percent

Income: more than 15 lakhs Tax according to the New tax slab: 30 percent

Now no tax will have to be paid till an annual income of up to Rs 7 lakh. Now, this limit was 5 lakh rupees.