Below are the income tax slabs for the financial year 2022-23 (assessment year 2023-24) for resident individuals below 60 years of age, Hindu Undivided Family (HUF), and Non-Resident Indians (NRI) with income in India:

The Finance Minister of India, Mrs. Nirmala Sitharaman, made significant changes to the virtual asset class during the Budget 2022. The government has officially recognized digital assets, such as crypto assets, as “Virtual Digital Assets,” which includes popular cryptocurrencies like Bitcoin and Ethereum, as well as Non-fungible tokens (NFTs) and other digital assets.

The Income Tax Act 1961 is a crucial legislation that governs taxation in India. As taxpayers, it’s essential to understand the various provisions of the act to optimize our tax liabilities. One such provision is Section 80C, which offers a range of tax-saving options to individuals and Hindu Undivided Families (HUFs).