New income tax Slab for the F.Y. 2023-24 with Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-01 to F.Y.2023-24 as per Budget 2023

 New Income Tax Slab for Financial Year 2023-24, Discounts: Finance Minister Nirmala Sitharaman

 changed the new income tax plan blocks while presenting the Union Budget for 2023-24 to make them

 more attractive. He also predicted that the new income tax system would be the default option for

 taxpayers from the 2023-2024 tax year.

You may also like:- Automated Income Tax Form 16 Part B for the Financial Year 2022-23 and Assessment Year2023-24 [This Excel Utility can prepare at a time 50 Employees Form 16 Part B]

New Tax Rules will be started on 1st April,, 2023. Apart from announcing new brackets in the new income tax system, Nirmala Sitharaman has also allowed a class of salaried taxpayers to claim three deductions. Let’s look at the deductions allowed under the new income tax system.

 

 

New personal income tax deduction system, rules

 

1. New Tax Relief 2023-24: Common tax relief in the new tax Regime

 

With exemption for salary and pensioners, the government has provided a standard deduction of Rs 50,000 that can be claimed from salary and pension. The standard deduction is a fixed deduction from gross pay, meaning that taxpayers do not have to file separately to claim the standard deduction.

Download Auto Calculate Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y.2000-2001 to F.Y.2023-2024 as per Budget 2023

Posted in: Auto Calculate Income tax Arrears Relief Calculator U/s 89(1) for the F.Y.2023-24,Income Tax Form 10E,New income tax Slab for the F.Y. 2023-24