Key Changes in New Tax Regime 2023/24. 1) The Rebate increased to Rs. 7 lakh 2) Hike in Basic exemption limit 3) New Income tax slabs 4) Standard deduction

1. Key Changes
In New Tax Regime
2023/24
www.grossaccount.com

2. The rebate
increased to Rs 7
lakh under the new
tax regime
www.grossaccount.com
Simply put, if your taxable income is
below Rs 7 lakh, you do not have to
pay any income tax in the new tax
regime.
www.grossaccount.com

3. Hike in basic
exemption limit in
new the tax
regime
www.grossaccount.com
People who have a higher income
than 7 lacks don't need to worry till the
3 Lakh. Because to tax imposed till 3
lacks.
www.grossaccount.com

4. New income
tax slabs
www.grossaccount.com
Up to Rs 3 lakh - 0 per cent tax
Between Rs 3 and 6 lakh - 5 per cent tax
Between Rs 6 and 9 lakh - 10 per cent tax
Between Rs 9 lakh and Rs 12 lakh - 15 per cent tax
Between Rs 12 lakh and Rs 15 lakh - 20 per cent tax
Above Rs 15 lakh above - 30 per cent tax
www.grossaccount.com

5. Standard deduction
introduced in the
new tax regime
www.grossaccount.com
Salaried individuals opting for the simplified tax
regime can avail of a standard deduction of Rs
50,000.
www.grossaccount.com

6. Thank You>>
www.grossaccount.com
Follow for more
www.grossaccount.com
@grossaccountsoftware