In this video, we have explained with examples the changes proposed by Govt in New Tax Regime in Budget 2023.
NOTE: This video is applicable only from FY 2023-24 as it explains the changes introduces in Budget 2023. For filing returns for FY2022-23(AY2023-24) this video is not applicable. For AY2023-24, please watch this previous video on new vs old tax regime - [ Ссылка ]
The Major changes are
1) New tax regime has been made default tax regime
2) The slabs have been reduced from 6 to 5
3) Slab rates have been reduced
- 0 - 3L = Nil
- 3 - 6L = 5%
- 6 - 9L = 10%
- 9 - 12L = 15%
- 12 - 15L = 20%
- More than 15L = 30%
4) Slab for rebate increased to Rs 7L income
5) Additional std deduction of Rs 52500 if the taxable income is more than Rs 15.5 L
EXCEL CALCULATOR LINK - (DOWNLOAD THE EXCEL FILE IN YOUR PC AND USE IT - DO NOT EDIT DIRECTLY IN BROWSER) - APPLICABLE FROM FY2023-24 ONWARDS (Based on BUDGET 2023)
[ Ссылка ]
How to select old or new tax regime? How to choose Tax regime?
