HomeMoreIncome Tax

Income Tax

What is Income Tax?

An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them. It is commonly called taxable income.

Income tax generally is computed as the product of a tax rate times the taxable income.

Taxation rates may vary by type or characteristics of the taxpayer and the type of income. Every year Government declares Income Tax slabs.


Income Tax slabs for New Tax Regime: 115BAC

Financial Year: 2023-2024
Tax SlabNew Regime Tax Slab Rates for FY 2023-24
Rs 0.0 – Rs 3,00000NIL
Rs 300001 – Rs 6,000005% above Rs. 3,00000
Rs. 6,00001 – Rs 9,00000Rs.15000 + 10% above Rs. 6,00000
Rs 9,00001 – Rs 12,00000Rs. 45000 + 15% above Rs. 9,00000
Rs 12,00001 – Rs. 15,00000Rs. 90000 + 20% above Rs. 12,00000
More than Rs. 15,00000Rs. 150000 + 30% above Rs. 15,00000

Financial Year: 2023-2024

Income Tax slabs for Old Tax Regime:

Tax SlabOld Regime Tax Slab Rates for FY 2023-24
Up to Rs 2.5 lakhsNil
Rs. 2.50001 -Rs. 5,000005% above Rs. 2,50000
Rs. 5,00001 – Rs. 10,00000Rs. 12500 + 20% above Rs. 5,00000
More than Rs 10,00000Rs.1,12500 + 30% above Rs. 10,00000

Financial Year: 2022-2023

New Tax Regime: 115BAC

Tax SlabNew Regime Tax Slab Rates for FY 2022-23
Rs 0.0 – Rs 2,50000NIL
Rs 250001 – Rs 5,000005% above Rs. 2,50,000
Rs. 5,00001 – Rs 7,50000Rs.12,500 + 10% above Rs. 5,00000
Rs 7,50001 – Rs 10,00000Rs. 37,500 + 15% above Rs. 7,50000
Rs 10,00001 – Rs. 12,50000Rs. 75,000 + 20% above Rs. 10,00000
Rs. 12,50001 – Rs. 15,00000Rs. 120000 + 25% above Rs. 12,50000
More than Rs. 15,00000Rs. 1,87,500 + 30% above Rs. 15,00000

Download the Excel Sheet to calculate the individual tax- New Regime only

Financial Year: 2023-2024

Download the Excel Sheet to get your tax.

Click below-


Download the Excel Sheet to get your tax.

Click below-


Download the Excel Sheet to get your tax.

Click below-


Download the Excel Sheet to calculate the individual tax For NPS Acount Holder- New Regime only

Financial Year: 2023-2024

Useful for NPS Holder

Download the Excel Sheet to get your tax.

Click below-


Click on the following Image-

Income Tax

Download the excel sheet for 2022 to 2023

Income Tax slabs for Old Tax Regime: 2022-2023

Tax SlabOld Regime Tax Slab Rates for FY 2022-23
Up to Rs 2.5 lakhsNil
Rs. 2.50001 -Rs. 5,000005% above Rs. 2,50000
Rs. 5,00001 – Rs. 10,00000Rs. 12500 + 20% above Rs. 5,00000
More than Rs 10,00000Rs.1,12500 + 30% above Rs. 10,00000

Click on the following image to calculate your tax

Tax Calculator


See More Resources-

1) How to make Quiz by Testmoz  

2) How to make PPT


See more

How to see the salary slip

Student Attendance Sheet (हजेरी कॅटलॉग)

Important Websites


Income Tax calculator and other information is only for Guidance. Do consult your C.A. to get authentic information.


See important information by clocking on the following image-

Income Tax

Income Tax-

Calculate your tax for year 2022-2023

Income Tax Department (Click Here for official website)


RELATED ARTICLES

View and Counter View

Prepositions

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

You cannot copy content of this page