Financial Year 2023-2024 has made not major change in tax slabs or any other sections. The tax slab old and new will continue. To know which Income Tax slab is beneficial for you and to get rid of the confusion in tax, you can use PayHR Online Income Tax calculator.
As per the new income tax regime, you need to give up as many of approx 70 tax exemptions and deduction under various sections of the Income Tax Act. The Income Tax slabs is purely optional, it is up to the taxpayers to choose which income tax slab do they want to follow, the 'OLD INCOME TAX SLAB', or the 'NEW INCOME TAX SLAB'. To derive accurate opinion on the changes made, you need to do your Income tax calculations carefully and see which slab helps you to save more Income tax. PayHR provides you a solution for the same by providing an Online Income tax calculator. Click the below link to access PayHR Online Income Tax Calculator.
Online Income Tax Calculator for Financial Year 2023-24: