Good news… The government is going to give this big relief to taxpayers from April 1

Income Tax Slab Changed

New Delhi: Finance Minister Nirmala Sitharaman had announced changes in the income tax slabs during the presentation of Budget 2023.
She said that under the new income tax regime, the taxable income has been increased to Rs 3 lakh. This means that all people with income up to Rs 3 lakh will not have to pay income tax.
With this, now those earning less than 7 lakh will not have to pay any income tax. However, this benefit will be available only to taxpayers who choose the New Tax Regime.
Taxpayers have got relief under the new tax regime.
Under the new tax regime, if the annual income of a taxpayer is Rs 7 lakh, then he will not have to pay any tax. Finance Minister Nirmala Sitharaman, while presenting the budget, had announced to make income up to Rs 7 lakh tax-free by changing the new tax regime. The government has excluded income up to Rs 7 lakh from tax under the new tax regime. The government’s objective behind making income up to Rs 7 lakh tax-free is that more and more taxpayers should adopt the new tax regime.