income tax slab 2022-23

For the Assessment Year (AY) 2022-23, the income tax slabs for individual taxpayers in India are as follows:

1. For Individuals below 60 years of age:
   • Income up to ₹2,50,000: No tax
   • Income from ₹2,50,001 to ₹5,00,000: 5% of the income exceeding ₹2,50,000
   • Income from ₹5,00,001 to ₹10,00,000: ₹12,500 plus 20% of the income exceeding ₹5,00,000
   • Income above ₹10,00,000: ₹1,12,500 plus 30% of the income exceeding ₹10,00,000
2. For Senior Citizens (aged 60 years or more but less than 80 years):
   • Income up to ₹3,00,000: No tax
   • Income from ₹3,00,001 to ₹5,00,000: 5% of the income exceeding ₹3,00,000
   • Income from ₹5,00,001 to ₹10,00,000: ₹10,000 plus 20% of the income exceeding ₹5,00,000
   • Income above ₹10,00,000: ₹1,10,000 plus 30% of the income exceeding ₹10,00,000
3. For Very Senior Citizens (aged 80 years or more):
   • Income up to ₹5,00,000: No tax
   • Income from ₹5,00,001 to ₹10,00,000: 20% of the income exceeding ₹5,00,000
   • Income above ₹10,00,000: ₹1,00,000 plus 30% of the income exceeding ₹10,00,000

Additionally, a 4% Health and Education Cess is applicable on the income tax amount calculated as per the above slabs.

It's important to note that these tax slabs are applicable for individuals resident in India. Non-resident individuals and other categories of taxpayers may have different tax rates and slabs.