Know about the 7 income tax currently available
Budget 2023 Live Updates: nnual income up to ₹2.5 lakh is exempt from tax.
Those individuals earning between ₹2.5 lakh and ₹5 lakh have to pay 5 percent tax.
Income between ₹5 and 7.5 lakh is taxed at 10 percent, while those between ₹7.5 and 10 lakh at 15 percent.
Those earning between ₹10 and 12.5 lakh have to pay tax at the rate of 20 percent, while those between ₹12.5 and ₹15 lakh have to pay at the rate of 25 percent.
Income above ₹15 lakh is taxed at 30 percent.