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    Vikshita Vitthal Gujaran in News

    11-Feb-2023 04:47 AM


    Will Leave Higher Disposable Income In Hands Of People: Finance Minister On New Tax Regime

    Nirmala Sitharaman said the new tax regime announced in the Budget is "very attractive".
    Finance Minister Nirmala Sitharaman on Friday said the new tax regime, which offers a rebate on annual income of up to Rs 7 lakh, will leave higher disposable income in the hands of people.
    She said the Budget focuses on the middle class, employment generation, MSME, agri sector, rural population, health and green growth.
    Income between Rs 3-6 lakh would be taxed at 5 per cent; Rs 6-9 lakh at 10 per cent, Rs 9-12 lakh at 15 per cent, Rs 12-15 lakh at 20 per cent and income of Rs 15 lakh and above will be taxed at 30 per cent.
    However, no tax would be levied on annual income of up to Rs 7 lakh.
    Source - NDTV