Income Tax Slabs for AY 2022-23 | Income Tax Slabs for FY 2021-22 for Salaried Individuals
This article gives Income tax slabs for FY2021-22 (AT 2022-23) for Salaried Individuals for existing and new regime.
There are two Tax Regimes available for FY2021-22 (AT 2022-23). Individuals and HUFs have the option to choose either the Existing Tax Regime or the New Tax Regime with lower rate of taxation (u/s 115 BAC of the Income Tax Act)
Rebate u/s 87-A Resident Individual whose Total Income is not more than ₹ 5,00,000 is also eligible for a Rebate of up to 100% of income tax or ₹ 12,500, whichever is less. This Rebate is available in both tax regimes.
The taxpayers opting for concessional rates in the New Tax Regime will not get certain Exemptions and Deductions (like 80C, 80D,80TTB, HRA) available in the Existing Tax Regime.
Tax Slabs:
Age – Upto 60 years
Age – 60 to 80 years
Age – 80+ years
Source: https://www.incometax.gov.in/
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