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Revised Tax Rates: No Tax for Income up to 7 Lakh INR; Surcharge Cut to 25%; Key Deductions Allowed.

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....RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the tax slab and omitted 25% rate of tax as well as reduce surcharge rate from 37% to 25% for new tax regime, and allowed deduction Standard Deduction , Family pension deduction , Contribution to Agniveer corpus Fund u/s 80CCH, Rebate u/s 87A now upto 25000/-, that means not tax liability upto total income 7 lakhs.....

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