Interim Budget : No change in Income Tax, Indirect tax slabs


New Delhi : In the interim budget, Finance Minister Nirmala Sitharaman has not changed the tax slabs both direct and Indirect. The income tax slabs have been kept unchanged, which means that the slabs of current 2023-24 financial year will continue in the new financial year unless the new government after the general elections alter the slabs in its regular general budget.
During her speech Sitharaman said that she “does not propose any changes to taxation, both direct and indirect”, adding that she proposes for it to remain the same as “last financial year”.
Existing tax slabs
Old Tax Regime:
• 5%: From Rs 2.5 lakhs to Rs 5 lakhs
• 20%: From Rs 5 lakhs to Rs 10 lakhs
• 30%: Above Rs 10 lakhs
New tax regime :
• 0%: No tax on income up to Rs 3 lakhs
• 5%: From Rs 3 lakhs to Rs 6 lakhs
• 10%: From Rs 6 lakhs to Rs 9 lakhs
• 15%: From Rs 9 lakhs to Rs 12 lakhs
• 20%: From Rs 12 lakhs to Rs 15 lakhs
• 30%: Above Rs 15 lakhs

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