The New Tax Regime for Senior Citizens: as per the Union Budget, 2023, the Government has modified the income tax slab rates for taxpayers under the New Tax Regime. Therefore, New tax regime for senior citizens: Through the Finance Bill, 2023, the Government has revised the income tax rates under the new tax regime for taxpayers, including senior citizens. Now there are 5 rates ranging from 5% to 30%, and income up to 7 Lakh is tax-free for those who opt for the New Tax Regime. In other words, Under the previous tax regime, residents…
The new tax regime for senior citizens: Income tax calculator for the tax year 2023-24 in new and old tax regime with tax slabs and tax exemptions as per Budget 2023
