Income Tax Slabs for FY 2022-2023 | New & Old Tax Regime

These income tax slabs are the ones that has been announced in this Year’s Budget which is for the financial year from 2022-23 and there has been no major changes in the Income tax slabs for the upcoming year compared to the previous year 2021-2022. The tax slabs for old and new regimes for the finanical year 2022-2023 (April 1st 2022 to March 31st 2023 ) are shown below



Old Tax Regime

Old Tax RegimeTax PercentageTax in Rupees
0 to 2,50,000 NILRs 0
2,50,001 – 5,00,000 5%5% of Total Income exceeding 2,50,000
5,00,001 – 10,00,00020%Rs.12500 + 20% of Total Income exceeding 5,00,000
Above 10,00,00030%Rs.112500 + 30% of Total Income exceeding 10,00,000

New Tax Regime

New Tax RegimeTax %Tax in Rupees
0 to 2,50,000 NILRs 0
2,50,001 – 5,00,0005%5% of Total Income exceeding 2,50,000
5,00,001 – 7,50,00010%Rs.12500 + 10% of Total Income exceeding 5,00,000
7,50,001 – 10,00,00015%Rs.37500 + 15% of Total Income exceeding 7,50,000
10,00,001 – 12,50,00020%Rs.75000 + 20% of Total Income exceeding 10,00,000
12,50,001-15,00,00025%Rs.125000 + 25% of Total Income exceeding 12,50,000
above 15,00,00030%Rs.187500 + 30% of Total Income exceeding 15,00,000

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