Compute your income tax liability after Budget 2023 changes here

Finance Minister Nirmala Sitharaman announced a number of changes in the income tax slabs under the new tax regime. As per the new changes, people with annual incomes of up to Rs 7 lakh will be eligible for tax rebates. Earlier, this limit was Rs 5 lakh per annum. Also, the new tax regime has been made the default regime.

No tax will have to be paid for income up to Rs 3 lakh. For income between Rs 3 to Rs 6 lakh, a tax of 5 per cent will be applicable. The highest tax rate of 30 per cent will