Income Tax in Budget 2023 Highlights: Sitharaman concludes speech, 5 announcements made on personal income tax

    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.

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