Nirmala Sitharaman on Income Tax: The process of filing Income Tax Return (ITR) has started from 1st April. Its last date is 31 July 2023 (31 July 2023). Tell that all those people who have taxable income, it is necessary to pay tax.
There is important news for those who pay Income Tax. The process of filing Income Tax Return (ITR) has started from 1st April. Its last date is 31 July 2023 (31 July 2023). Tell that all those people who have taxable income, it is necessary to pay tax. At present, there are 2 regimes for paying tax across the country. One new tax regime and the other old tax regime, under which you can pay your tax. In such a situation, before filing tax this time, you have to take care of some special things.
Will have to pay 30 percent tax
Finance Minister Nirmala Sitharaman had made several announcements regarding income tax in the budget for the financial year 2023-24. This time Nirmala Sitharaman had made many changes in the new tax regime, after which if you pay tax under the new tax regime, then you may have to pay 30 percent tax.
Who will have to pay how much tax?
This time the Finance Minister had made changes in the slabs of the new tax regime, after which you will not have to pay any tax on income up to Rs 3 lakh. Apart from this, those people whose income is between 3 to 6 lakhs will have to pay 5% tax on it. Those earning between Rs 6 to 9 lakh will have to pay tax at the rate of 10 per cent. At the same time, those earning Rs 9 to 12 lakh will have to pay 15 per cent tax.
These people will have to pay 30 percent tax.
If the salary of any job worker is 12 to 15 lakhs, then these people will have to pay 20 percent tax. Apart from this, people with a salary of Rs 15 lakh will have to pay tax at the rate of 30 per cent.
When will you get the benefit of tax exemption?
Let us tell you that under this new tax regime, taxpayers will have to take special care that they will not get the benefit of tax exemption on any investment. On the other hand, if you file tax under the old tax regime, then you will get the benefit of exemption on investment.
