If you are an Indian resident and have earning source then you need to pay the taxes and file the returns to Income Tax department which is govern by Government of India.
As per new budget which has presented in the month of Feb 2023, the new tax slab has been introduced for FY 23-24 (AY 24-25).
In new tax regime for FY 23-24, standard deduction will be applicable income above Rs 15.50 Lakhs and above.
New tax slabs and applicable Income Tax
You can check your Income tax of FY 22-23 ( AY 23-24 ) and FY 23-24 (AY 24-25 ) by downloading the Excel sheet of Income Tax Calculator.
Important : You are requested to consult your Tax Advisor before taking any decision. This is a tentative assessment.
