Budget Changes for FY 2023-24 (24)

The Union Finance Minister has presented the budget for the Financial Year 2023-24. These changes impact the Income Tax calculations w.e.f April 2023. greytHR has enabled the budget changes by default in your account. The taxpayers (employees) can also select between the old and new regimes to calculate Income Tax. The old regime has the same tax slab rates and exemption components as the previous financial year. The new regime will have lower tax rates and a few numbers of exemptions.