Earlier there was no tax up to ₹3 lakh, but in the current budget the limit has been raised to ₹4 lakh. Current Proposed Rates: 5% for ₹4 Lakh-₹8 Lakh, 10% for ₹8 Lakh-₹12 Lakh, 15% for ₹12 Lakh-₹16 Lakh, 30% for Above ₹24 Lakh Previous Tax Rate: ₹3 Lakh-₹7 Lakh 5% per lakh, 10% for ₹7 lakh-₹10 lakh, 15% for ₹10 lakh-₹12 lakh.
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