The finance minister introduced the new personal income tax regime while presenting the Union Budget on July 23. Representative image
Budget: New personal income tax rate structure unveiled. Details here.
The tax rate will be 30% for those with income above ₹15 lakh per annum
Finance Minister Nirmala Sitharaman on Tuesday (July 23) while presenting the Union Budget said that under the new tax regime, the personal income tax rate structure would be revised as follows:
₹0 - ₹3 lakh - Nil
₹3 - 7 lakh – 5%
₹7 - 10 lakh - 10%
₹10 - 12 lakh - 15%
₹12 - 15 lakh - 20%
Above ₹15 lakh - 30%
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