Hello guys, if you are searching for Income Tax Slab for AY 2023-24 PDF you are on the right page. Finance Minister Nirmala Sitharaman presented the Union Budget 2023-24 on February 1, 2023. Prime Minister Narendra Modi has said that India’s budget will try to accomplish the hope and aspiration of the common citizens. The assessment states that the Indian economy is predicted to grow by 6.5 percent in the next financial year. The Economic Survey 2022-23 was obtainable by the Finance Minister in Parliament on 31 January.
People are enthusiastically waiting to know the announcement related to income tax rates and slabs. Last year no new stipulation was announced in the Budget 2022-23. But people are having a baby that the government may give relief to personage taxpayers this year by growing the tax exemption or exemption edge. Salaried employees are one of the major tax contributors in India and their income is tax-exempt up to Rs 2.5 lakh per annum. Income tax is levied on the taxpayers on the base of the slab system.
Income Tax Slab for AY 2023-24 PDF – Highlights
Tax rates for individuals
| Net Income Range | Rate of income-tax |
| Up to Rs. 2,50,000 | – |
| Rs. 2,50,001 to Rs. 5,00,000 | 5% |
| Rs. 5,00,001 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Tax rates for senior citizens
| Net Income Range | Rate of income-tax |
| Up to Rs. 3,00,000 | – |
| Rs. 3,00,001 to Rs. 5,00,000 | 5% |
| Rs. 5,00,001 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Tax rates for Super senior citizens
| Net Income Range | Rate of income-tax |
| Up to Rs. 5,00,000 | – |
| Rs. 5,00,001 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
What is the tax rates for individual or HUF opting for an Alternate Tax Regime under Section 115BAC
| Net Income Range | Rate of income-tax |
| Up to Rs. 2,50,000 | – |
| Rs. 2,50,001 to Rs. 5,00,000 | 5% |
| Rs. 5,00,001 to Rs. 7,50,000 | 10% |
| Rs. 7,50,001 to Rs. 10,00,000 | 15% |
| Rs. 10,00,001 to Rs. 12,50,000 | 20% |
| Rs. 12,50,001 to Rs. 15,00,000 | 25% |
| Above Rs. 15,00,000 | 30% |
Normal Tax Rates – Income Tax Slab Rates for A.Y. 2023-24
| Net Income Range | Rate of income-tax |
| Up to Rs. 10,000 | 10% |
| Rs. 10,001 to Rs. 20,000 | 20% |
| Above Rs. 20,000 | 30% |
Here you can free download Income Tax Slab for AY 2023-24 PDF by clicking the link given below.