Income Tax Slab Rates & amp; Deductions FY 2023 In PDF

As a person, you work hard to increase your income over time whether you are a salaried person or a businessman in India, you have to pay income tax to the government based on the total income earned in a specific financial year. You can use an online tax calculator for calculation or hire a professional because paying tax according to your tax bracket is a legal obligation.

Based on their annual income, all Indian citizens are classified into income tax slabs or tax brackets associated with several categories. The income tax slab is the relationship between the tax paid and your annual income. They are commonly known as tax rates or tax brackets, which tend to increase as your income increases and fall into higher income tax slabs.

 

Income Tax Slab & New Tax Rates FY 2023 PDF

In addition, income tax slabs are subject to change every year. As per the announcement of the Union Budget 2023, there has been no change in the income tax slab for the financial year 2023.

In terms of age, Indian taxpayers fall into three categories:

  • Indian resident as well as non-resident below 60 years
  • Senior citizens between 60 and 80 years old
  • Resident Super Senior Citizens should be above 80 years of age

Income Tax Slab for FY 2023-24 (AY 2023) in India

Here check updated latest income tax slab rates in India for Individuals, Company, NRI, HUF, BOI, AOP, LLP, Local Authority, Co-operative society.

Individuals (Other than senior and super senior citizen)
Net Income Range Rate of Income-tax
Assessment Year 2023 Assessment Year 2023-24
Up to Rs. 2,50,000
Rs. 2,50,000 to Rs. 5,00,000 5% 5%
Rs. 5,00,000 to Rs. 10,00,000 20% 20%
Above Rs. 10,00,000 30% 30%
Senior Citizen (who is 60 years or more at any time during the previous year)
Net Income Range Rate of Income-tax
Assessment Year 2023 Assessment Year 2023-24
Up to Rs. 3,00,000
Rs. 3,00,000 to Rs. 5,00,000 5% 5%
Rs. 5,00,000 to Rs. 10,00,000 20% 20%
Above Rs. 10,00,000 30% 30%
Super Senior Citizen (who is 80 years or more at any time during the previous year)
Net Income Range Rate of Income-tax
Assessment Year 2023 Assessment Year 2023-24
Up to Rs. 5,00,000
Rs. 5,00,000 to Rs. 10,00,000 20% 20%
Above Rs. 10,00,000 30% 30%
Hindu Undivided Family (Including AOP, BOI, and Artificial Juridical Person)
Net Income Range Rate of Income-tax
Assessment Year 2023 Assessment Year 2023-24
Up to Rs. 2,50,000
Rs. 2,50,000 to Rs. 5,00,000 5% 5%
Rs. 5,00,000 to Rs. 10,00,000 20% 20%
Above Rs. 10,00,000 30% 30%

Key Highlights of Income Tax Slab for AY 2023 PDF

Name of Article Income Tax Slab FY 2023 PDF
Financial Year 2023
Concerned Dept Income Tax Department, Govt of India
Target Beneficiary All taxpayers
Language English
Number of Pages 7
Source Link https://www.incometaxindia.gov.in/
Revised Income Tax Slabs & Tax Rates Click Here

Download New Income Tax Slab Rate for AY 2023 PDF for free from www.pdfformdownload.com using the direct download link given below.

Income Tax Slab AY 2023 PDF & New Tax Rates

Income Tax Slab AY 2023 PDF Free Download | Income Tax Deductions for AY 2023 PDF | New Income Tax Slab Rates for FY 2023 PDF Download Link

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