If you have come to know how much Income Tax is levied , then you are welcome. Friends, in our country India, it is necessary for every citizen who earns income from job, business or other source to pay tax. In India, tax exemption is available only to those people who do not come under the tax net. Let us know in detail in this article how much income is taxed in our country India , that is, let us try to understand from the tax slabs set by the Government of India, how much is the tax exemption or tax liability.

How much income tax is levied 2023-24

Taxes imposed on annual income are as follows:-

New income tax slab 2023-24

income new rate

0 to 3 lakh zero

3 to 6 lakhs 05%

6 to 9 lakh 15000+10%

9 to 12 lakh 45000+15%

12 to 15 lakh 20%

More than Rs 15 lakh 150000+30%

Understand Income Tax Slab 2023-24

According to the tax slab, there will be no tax on income up to Rs 3 lakh in a financial year.

People whose annual income is Rs 3 to 6 lakh will have to pay 5 percent tax.

Taxpayers whose annual income is Rs 6 to 9 lakh will have to pay tax of Rs 15,000 + 10%.

People with annual income of Rs 9 to 12 lakh will have to pay Rs 45,000 + 15% tax.

Those whose annual income is Rs 12 to 15 lakh will be taxed at 20 percent.

Those earning more than Rs 15 lakh will have to pay tax up to Rs 150,000 + 30%.

Read Also Use HDFC Credit Card

Leave a Reply

Your email address will not be published. Required fields are marked *