The Union Budget 2023 introduced transformative changes for the Financial Year (FY) 2023-24, making the the default choice for individual taxpayers. Whether you are a salaried professional or a business owner, using a reliable Income Tax Calculator FY 2023-24 Excel is essential for comparing the Old and New regimes to minimize your tax outgo. Key Highlights of FY 2023-24 Tax Changes
For high-net-worth individuals, the highest surcharge rate was slashed from 37% to 25% under the New Regime. Income Tax Slab Comparison (FY 2023-24) income tax calculator fy 2023-24 excel free download
Deciding which regime to pick depends on your total income and eligibility for deductions like 80C, 80D, and HRA. Income Slab New Tax Regime Rate Old Tax Regime Rate (General) ₹2,50,001 - ₹3,00,000 ₹3,00,001 - ₹5,00,000 ₹5,00,001 - ₹6,00,000 ₹6,00,001 - ₹9,00,000 ₹9,00,001 - ₹10,00,000 ₹10,00,001 - ₹12,00,000 ₹12,00,001 - ₹15,00,000 Above ₹15,00,000 The Union Budget 2023 introduced transformative changes for
The tax rebate under Section 87A was increased to ₹7 lakh for the New Regime, effectively making income up to this limit tax-free. Income Tax Slab Comparison (FY 2023-24) Deciding which
The number of slabs in the New Regime was reduced from six to five.
Note: For Senior Citizens (60–80 years), the Old Regime exemption starts at ₹3 lakh; for Super Senior Citizens (80+), it starts at ₹5 lakh. Income Tax Rates | AY 2024-25 | FY 2023-24 - Referencer
The Union Budget 2023 introduced transformative changes for the Financial Year (FY) 2023-24, making the the default choice for individual taxpayers. Whether you are a salaried professional or a business owner, using a reliable Income Tax Calculator FY 2023-24 Excel is essential for comparing the Old and New regimes to minimize your tax outgo. Key Highlights of FY 2023-24 Tax Changes
For high-net-worth individuals, the highest surcharge rate was slashed from 37% to 25% under the New Regime. Income Tax Slab Comparison (FY 2023-24)
Deciding which regime to pick depends on your total income and eligibility for deductions like 80C, 80D, and HRA. Income Slab New Tax Regime Rate Old Tax Regime Rate (General) ₹2,50,001 - ₹3,00,000 ₹3,00,001 - ₹5,00,000 ₹5,00,001 - ₹6,00,000 ₹6,00,001 - ₹9,00,000 ₹9,00,001 - ₹10,00,000 ₹10,00,001 - ₹12,00,000 ₹12,00,001 - ₹15,00,000 Above ₹15,00,000
The tax rebate under Section 87A was increased to ₹7 lakh for the New Regime, effectively making income up to this limit tax-free.
The number of slabs in the New Regime was reduced from six to five.
Note: For Senior Citizens (60–80 years), the Old Regime exemption starts at ₹3 lakh; for Super Senior Citizens (80+), it starts at ₹5 lakh. Income Tax Rates | AY 2024-25 | FY 2023-24 - Referencer
