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Watch: No income-tax on income of up to Rs 7 lakh and other tax details in FM Nirmala Sitharaman’s speech

| Feb 01, 2023, 12:47:54 PM | TOI.in
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In a massive relief to the salaried class, finance minister Nirmala Sitharaman announced that people who opt for the new tax regime will pay no tax on income of up to Rs 7 lakh. She has also reduce the number of tax slabs and the highest tax slab of 30% will be applicable on tax of Rs 15 lakh and above. The FM also said that the new tax regime will now become the default tax regime but tax payers can choose the old tax regime if they find it beneficial.

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