Income Tax Slab: The year 2022 is ending, and 2023 is beginning. The new year will also be full of new hopes for the people. At the same time, people will do something new in their life this year. At the same time, this year, people are going to do a lot of work to increase their earnings and savings. At the same time, some essential things should also be known in the new year; these things will not be less than any New Year gift and understanding them, the New Year can also be made wonderful.
Income Tax
Whoever has taxable income in the country has to pay income tax. This is why tax is collected on income from the government so that many welfare schemes, including employment programs, can be run through the government. At the same time, there are lakhs of employees in various departments whose salary and administrative costs are borne by the government.
Income Tax Slab
Every country’s citizen must pay income tax, whose income is taxable according to the tax slab. Although some people also got concession in this. If someone does not have income according to the income tax slab, he will not have to pay income tax. Please inform that according to FY 2021-22, if income tax is to be paid according to the New Tax Regime, then income tax will not be levied on the annual income of Rs 2.5 lakh.
Income Tax Slab Rate
On the other hand, if people below 60 years and HUF pay tax in FY 2021-22 through the Old Tax Regime, then they will not have to pay income tax on annual income of Rs 2.5 lakh. However, senior citizens paying tax under the Old Tax Regime whose age is more than 60 years but less than 80 years, such people will not have to file income tax on annual income of Rs 3 lakh. On the other hand, for those older than 80 years, such people will not have to pay tax on a yearly income of Rs 5 lakh.
