Income Tax Slab for AY 2023-24 : Budget 2023
Income Tax Slabs for AY 2023-24 are changed after long time by Indian government in budget 2023. A salaried individual earning 7.5 lakhs can avoid paying taxes under the new tax regime by utilizing the standard deduction of 50,000. This reduces the taxable income to 7 lakhs, which is the threshold for paying no taxes.