37. Box 3 calculation model legal. Local income taxes. 5 lakh down from 1. The table for the new tax regime slabs-. 500,000 slab, the personal income tax rate of 6%, 12%, 18%, 24%, 30% and 36% will apply. 5% solidarity surcharge tax. As of 2023, there is a tax of 32%. Tax on income slab from ₹ 5 lakh to ₹ 10 lakh: Tax amount to come around ₹ 1,00,000. The 30% reimbursement ruling is a tax advantage for certain expat employees in the Netherlands. This Netherlands salary after tax example is based on a € 80,000. Higher rate. 000 euros on an annual basis and 223. e, Rs 60,000. Income tax calculator: Changes in income tax slab FY 2023-24 that you must know. Article 4 of the General Taxation Act prescribes that an individual's residence position is determined based on all (relevant) facts and circumstances. Below is the chart of corporate income tax in Nepal for FY 2077/78 (2020-21). This is called the “marginal tax rate system” (or progressive), with your marginal tax rate being the rate applied to your highest level of income. salary income tax slab 2023. 5% on income which exceeds ₹ 3,00,000. 300 to € 114. Table 1; Table 2; Table 9; Table 10; Table 11; Table 12; Rates for 2021; Rates for 2020; Rates for 2019;. In the Union Budget 2022-23, the income tax slab for FY 2023-24 was made public. Sitharaman began by calling this the ‘first Budget of Amrit Kaal’ and a blueprint for India @ 100. The applicable sales tax rate. The standard rate applies to the excess of the taxable income. 40%. 00 percent in 1996 and a record low of 49. Rs. 94 percent from 2000 until 2023, reaching an all time high of 21. आइए देखते. Further, the income tax slabs in the new tax regime. To calculate the sales tax on a purchase in Pakistan, you can use the following formula: Total sales tax = Total price x (Sales tax rate / 100) For example, if you are purchasing goods for PKR 100,000 and the. INR 2. Above Rs. 65% which is divided in: AOW (General Old-age Pensions Act ): 17. 30% of the total income + Rs. 5 lakh: NIL Under the new Income Tax Slab 2023-24 in Pakistan, the FBR has introduced three additional income slabs along with revised tax rates. Budget 2023: The basic personal tax exemption limit was last revised in 2014. Dutch Parliament Approves Tax Plan for 2023 Including Increased Lower Corporate Tax Rate — Orbitax Tax News & Alerts The Dutch Ministry of Finance has. This translates to an annual gross salary of €23,213, which equates to €1,774 per month after tax, as estimated by our salary. Netherlands: 19% for the first €200. From a wage of € 38,704 you only charge wage tax and no. Income tax slabs FY 2023-24: Here are the income tax slabs for the current FY 2023-24 under new and old tax regimes. Your taxable income and filing status determine which tax brackets and rates apply to you. 5 lakh: 10% Tax. The income tax slab and rates for FY 2021-22 is important as it is needed to calculate income tax amount while filing ITR this year, and the income tax slabs and rates for FY 2022-23 is need to know how much tax-saving investments you need to do to reduce your tax outgo. On 28 April 2023, the Dutch government presented its Spring Memorandum to the Dutch parliament. 300,000 to Rs. These tables pertain to the latest tax structure in India. Personal income tax. The new tax system has increased the basic exemption threshold from Rs 2. Rs. In 2023, the benefit amounts to 32% of the first EUR 350,000 of R&D costs and 16% of the excess (both salary and other costs and expenses). 3,00,000. 5 lakh to Rs 3 lakh. Above ₹ 10 lakh: 30% levied on the remaining amount of ₹ 10 lakh -- the amount comes to around ₹ 3. Two rates for substantial interest as of 2024: 24. If the taxable amount is € 395,000 or less, the corporate income tax rate is 15%. Here is a list of announcements relating to the Income Tax, announced in the Budget. 5 lakh by investing in tax saver fixed deposits. 10% of income tax when total income is between Rs. 2. Whereas annual salary income exceeds Rs. 3) The income tax slabs under. 5 lakh or 10 per. You pay tax in the Netherlands on your income, on your financial interests in a company and on your savings and investments. Rate of deductions box 1. Labour market tax. 50 lakh and upto Rs. Rs. Senior and Super Senior Citizens can opt for the Old Tax Regime or the New Tax Regime with lower rate of taxation (u/s 115 BAC of the Income Tax Act). . 2) Rebate under section 87A has been hiked from Rs 5 lakh to Rs 7 lakh. Payroll taxes Are you required to withhold payroll taxes? Calculating payroll taxes Rates Rates for 2023 Rates for 2023 Read The most important rates, amounts and percentages for 2023 Please find below the most important rates and percentages for the year 2023. On the other side, the tax rate that people pay on their assets has increased to 32% in 2023 (31% in 2022). 50 lakh. Business succession arrangements. In case of a dispute, the Dutch tax courts will examine the person's durable ties of a personal (and, to a lesser extent, economic) nature. Box 1: income from profits, employment, and homeownership. May 4, 2023. Revise Income Tax Slabs. Income tax calculator. Personal income tax rates. 399, you need to pay 49,50% tax. Income Tax Rebate in Budget 2023, Income Tax Slabs 2023-24 Updates: Check the latest news and updates on Personal Income Tax changes, new saving, investment and taxation rules in India Budget 2023Surcharge for F. See the tables below to know details of the new tax rates. 000 euros on an annual basis and 223. Under the recently approved amendment to Finance Bill 2023, individuals whose income falls under the category of ‘salary’ and exceeds seventy-five percent of their taxable income will be subject to the following tax rates: 01. Those with annual income above ₹2. Income Tax Slab 2023: टैक्स स्लैब से तय होता है कि कौन कितनी आय पर कितना टैक्स भरेगा. 2020. The government has also reduced the number of tax slabs from seven to six. Rs 9-12 lakh - 15%. The tax rate for income from savings and investments stays 30%. Income above Rs 7,00,000 will be taxed at the revised tax rates - Rs 3,00,000 to Rs 6,00,000 will be taxed at 5%. 5 is exempt from taxation under both regimes. The 2021 Withholding Tax Act aims to prevent the Netherlands from being used as an entrance to certain l jurisdictions (which are set out in published regulations) and to prevent base erosion and profit shifting and introduces a conditional withholding tax of 25 per cent (equal to the top corporate income tax rate in 2021) on certain intragroup. Where the taxable salary income exceeds Rs. Also, the composition taxable persons must pay GST at lower or nominal rates such as 1. The 2023 tax year—the return you'll file in 2024—will have the same seven federal income tax brackets as the 2022-2023 season: 10%, 12%, 22%, 24%, 32%, 35% and 37%. 50 percent in 2000. The basic rate for income up to €73,031 will be reduced from 37. In the table below, you can see. Then tax rate will be 7% of the amount goes beyond annual income of Rs. What's new in the new income tax regime1) Basic exemption limit is hiked from Rs 2. NEW DELHI: The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders. The new income tax slabs for the salaried class under the amended Finance Bill 2023 revealed that higher rate of income tax would now be applicable from July 1, 2023, where annual taxable income. Rates. 80k Salary After Tax in Netherlands. The measures marked with a * have already been included in a previous bill. You do not get a Personal Allowance on. Learn more about tax slabs. "The new tax rates are 0 to Rs 3 lakhs - nil, Rs 3 to 6 lakhs - 5%, Rs 6 to 9. This tax rate includes social security premiums, which are levied primarily in the first bracket. [2] The discount of 17. 6 Lakh . e. For that earning between Rs100,000/- and Rs300,000/- per month, the proposed tax rate is 12. 2 million per year (Rs50,000 to Rs100,000 per month) will pay a tax of. 93% or rates for attributed benefits Rates for attributed benefits Rates for attributed benefits (All-inclusive pay) Tax Rate % 0 – 12,530 11. Credit Score. Codification of restoration of rights in Box 3. 45%. 25% on the tax amount if the income exceeds ₹2 crore. Mutual Funds. Changes in the New Tax Regime: The new tax regime is now the default tax regime, and the government has taken 5 measures to make it more attractive. 1 day ago · In a shock result described as the biggest shift ever seen in the Netherlands, the far-right, anti-Islam Party for Freedom (PVV) of Geert Wilders is set to become the. The top marginal income tax rate of 37 percent will hit. Income from box 2 below is subject to tax at a rate of 26. The income slabs and their respective tax rates are as follows: Monthly income between Rs50,000/- and Rs100,000/-: The tax rate is set at 2. Monthly income between Rs100,000/- and. Know what Budget 2023 proposedAs of 2023, the top tax rate of 42 percent will be applied to annual incomes of 62,810 euros (2022: 58,597 euros). Maa Laxmi Aarti. Highest income surcharge reduced from 37% to 25%. Additional rate. 8: New Zealand (Last reviewed 27 September 2023) 28: Nicaragua (Last reviewed 18 July 2023) 30:Tax Slabs for AY 2023-24. The government of Pakistan has established tax rates for salaried individuals for the fiscal year 2022-23. Employees in Netherlands to calculate their annual salary after tax. INR 5,00,001 - INR 7,50,000. In 2023 there will be 2 bands: a first band with a salary to € 73,031 and a second band with a salary of € 73,032 or more. Firstly, workers who fall into the tax bracket for those earning up to 73. You can also see the rates and bands without the Personal Allowance. The relief is tapered by £1 for every £2 earned over £100,000. The following slabs and income tax rates will be applicable for salaried persons for the year 2022-2023: Where the taxable salary income does not exceed Rs. You pay tax in the Netherlands on your income, on your financial interests in a company and on your savings and investments. The Budget 2023 speech is scheduled to begin at 11 am. Income tax rate. New Income Tax Slab for FY 2023 - 2024 . Let's understand income tax calculation under the current tax slabs and new tax slabs (optional) by way of an example. The FBR has added three new income categories and altered tax rates as part of Pakistan’s new income tax structure for 2023–2024. Rs 3-6 lakh - 5%. 5% of the amount exceeding. One of the primary conditions is that your salary is a certain amount after the 30% reduction: 2023 (provisional) salary requirements for 30% ruling. 50 percent. The income tax rates change every year. 300,000 to Rs. The government has introduced a slew of changes to the 'new income tax slab' in order to reduce the tax liabilities for middle class individuals. [3] If you live in the Netherlands or receive income from the Netherlands, you will be subjected to pay income tax in the Netherlands. Rs 3 lakh to Rs 6 lakh. Finance Minister Sitharaman said that the new. 20%. Tax Rate . 7 lakhs. Refer to the table below to see the income tax slabs for the new regime in 2023. 5 lakh or more will thus stand to benefit by Rs 52,500,” Union Finance Minister Nirmala Sitharaman said while announcing the change in the new tax regime. Let’s take a look at which tax slabs are applicable as per the new income tax regime: Those with annual income from ₹0 to ₹2. Revise tax slabs As per the current income tax provisions, an individual is required to pay taxes based on slab rates. The general slab rates applicable in the case of an individual or HUF are 5%, 20%, and 30%. On the first 5,000. According to this amendment there will no profession tax on salary & wages up to Rs. Based on the amount of the 2023 WNT norm (EUR 223,000), the tax-free remuneration amounts to EUR 66,900 per year. Box 1: income from profits, employment, and homeownership. Income Tax Slabs Budget 2023-24 Live Updates: Key personal income tax changes announced in Budget 2023. 1 Crore. 37. Above €69. 20% of the total income + 4% cess. Income Tax Slabs - Salary Tax Calculator for year 2022 - 2023. Detailed New York state income tax rates and brackets are available on this page. Taxation Rate. The country uses tax revenue to fund various public services and programs. Tax Rate Slabs under New Tax Regime for FY 2022-2023: Note that the tax slabs under the new tax regime are the same for all taxpayers, irrespective of their age. 54 increased (but not above $1. Income Tax Rate. 49. 1 million. Rs 6 lakh to 9 lakh - 10%. The new tax regime slabs for FY 2023-24 (AY 2024-25) are as follows: Up to Rs. What Is the Dutch Minimum Wage? In 2023, the Dutch minimum wage for full-time employees over 21 years old is €446. Income . The income thresholds for each bracket, though, are adjusted slightly every year for inflation. Income tax in the Netherlands in 2021. Now that we know of the nuances of both the old and new tax regime slabs after Budget 2023-24. Taxable income up to Rs600,000: The tax rate shall be zero percent. Nil. nl Personal income tax. There is a transitional arrangement for incoming employees for whom the 30% rule was applied over the last pay period (December) of 2022. VAT, Consumption tax & Excise. 00 lakh from Tk. 000 euros on an annual basis and 223. Asked about the top income tax relief measures that the government can take, most participants said that revising income tax slabs with the 30% tax slab at income of above Rs 20 lakh (as against current Rs 10 Lakhs) should be. Personal income tax box 3. Surcharge should be levied on the Income-tax payable amount before cess is levied. Gift and inheritance tax. Awaiting an actual fix of Box III, the Cabinet has proposed to raise the tax rate from 31% (2022) to 32% (2023), while also raising the threshold for levy from € 50. Rs 6-9 lakh: 10 per cent. While the simplified personal tax regime was introduced effective FY 2020-21, the tax rate did not undergo a change. -Income of above ₹ 6 lakh and up to ₹ 9 lakh: 10%. • Income from ₹ 9 Lakh to ₹ 12 Lakh. As a result of deduction, rebate, and the tweak in the income tax slabs announced in the Budget 2023, salaried, pensioners and family pensioners will not have to pay any tax if their income is up to Rs 7. A lower rate of 19% (15% in 2022) applies to the first income bracket of EUR 200,000 (EUR 395,000 in 2022). 3 lakh - 0% (Nil) Rs 3 lakh to 6 lakh - 5%. Revised Income Tax Slabs for the New Tax Regime (default) FY 2023–24: Up to Rs. Value-added tax (VAT), known in Dutch as Omzetbelasting or BTW, is payable on sales of goods and on services rendered in the Netherlands as well as on the importation of goods and on the ‘intra-European’ acquisition of goods. However, there is no benefit of any kind of deductions in the alternative tax structure. 10. Mahua Moitra. 3 Lakh. According to the Union Budget for 2023, the Income Tax Slabs have undergone changes, and the basic income exemption rate has been increased from Rs. 49. Personal income tax. € 73,031 and upwards. The government of Pakistan has finalized tax slabs for salaried individuals for the fiscal year 2022-23. Income tax rate. ₹ 5,00,001 – ₹ 7,50,000. 5%. You can choose your tax rate for income from schedular payments. Taxpayers get a rebate for the tax that accrues in the Rs 2. For income of above Rs 6 lakh and up to Rs 9 lakh, the income tax will be applicable at a 10 per cent rate. 5%. The most important rates and percentages for 2023, 2022, 2021, 2020, 2019 and 2018 are available below: You can find the other rates, amounts and percentages for 2023, 2022, 2021, 2020, 2019 and 2018 in the ' Handboek Loonheffingen ' ('Payroll Taxes Manual', only available in Dutch): Was this information useful to you?Let’s take a look at which tax slabs are applicable as per the new income tax regime: Those with annual income from ₹0 to ₹2. 5% of the income tax. In the 2023 Tax Plan, it is proposed to introduce a step-up rate of 24. ANW (General Surviving Relatives Act): 0. 00. In 2021 a general tax credit was introduced. 2019. When it comes to Budget, the only thing that the salaried class look forward. Tax havens, such as Luxembourg and the Cayman Islands, attract foreign investors with low tax rates. Tax rates, bands and reliefs. 96% to 5. Income Tax Budget 2023 Highlights: Finance Minister Nirmala Sitharaman tweaked the income tax slabs under the new tax regime. Up to €3,070 for everyone under the state pension age (€2,874 in 2022). Employers to calculate their cost of employment for their employees in Netherlands. The income limits for all 2023 tax brackets and all filers will be adjusted for inflation and will be as follows (Table 1). The new income tax slabs for the salaried group under the amended Finance Bill 2023 revealed that a higher rate of income tax would now be. The Netherlands under Rutte has been a key player in the European Union and is a big contributor to the EU budget, so a win for a party that wants a referendum on. Impact on employers consider the new salary requirements There are seven federal income tax rates in 2023 and 2024: 10%, 12%, 22%, 24%, 32%, 35% and 37%. The limit will be increased from Rs 5 lakh currently by Rs 2 lakh in an announcement which will bring a loud cheer to taxpayers. Personal tax credit (for people with low income) in the Netherlands - 2,477 euros. 90% as of 2023. 42 EST. 00. Box 2: income from substantial interest Two-bracket. Tax Rate. Box 2 tax rates for income from substantial interest. Currently, those with an income of Rs 5 lakhs do not pay any income tax and I proposed to increase the rebate limit to Rs 7 lakhs in the new tax regime. INR 2,50,001 - INR 5,00,000. As of 2024, the 30% ruling may NOT be applied on employment income exceeding the WNT-norm, which is € 216,000 in 2022. Recommended experts taxt. Surcharge shall be. 8x. Tax credits are deducted from the total tax payable. You will not pay any bracket tax on the first NOK 198,349 of your personal income. S. 5 lakh to ₹5 lakh: 5% Tax. Minimum taxable salary at 70%: 41. · Income above Rs 1 crore and up to Rs 2 crores – 15%. Sales Tax Rate in Netherlands averaged 19. grondhout@ey. Box 1 basic rate decreases to 36. So, the limit of maximum tax-exempt income is Rs 2. Following are the salient features introduced to Income Tax Ordinance, 2001 through Finance Bill, 2023, according to Pakistan Budget 2023-24. The new tax rates came into effect from June 30th, 2022, and are based on the Finance Bill 2019-2022. Most countries, including the Netherlands, have adopted local rules implementing this Directive, which may have an impact on design of equity and other incentive plans in the EU, particularly on age or age and service provisions which give different treatment (e. Be prepared for your move abroad. India vs Netherlands Live. So 30% of your wage is tax-free. New income tax slab 2023-24: No tax if income is up to Rs 7. Labour market tax amounts to 8% of the personal income. The Netherlands Tax Calculator below is for the 2023 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Jamaica. Nil. NIL. All earnings over that barrier will be taxed at 49,5%. com; Ernst & Young Tax Services Limited (Hong Kong), Netherlands Tax Desk, Hong Kong. 2. In addition, individuals who seek to apply for EU Blue Cards on or after 1 January 2023 must have a monthly income of at least EUR 5,867 (up from EUR 5,670) at the time of filing their application. Income Tax Slab 2023 Income Tax Calculator new income tax slab for ay 2023-24 new tax regime vs old tax regime highest tax rate. 3) The income tax slabs under the new income tax regime will be as follows:Up to Rs 3 lakh - 0%. Know what are the new income tax slabs under the new tax regime from FY 2023-24 and how they are different from existing ones. A transitional regime applies. 9% in 2023. 5%. 93% tax rate for income from € 0 - € 73,031. exclude the mandatory 8% holiday allowance in the Netherlands. 25% of Income Tax for income > ₹2 crore. This can be found by adding the federal GST rate of 18% and the applicable provincial sales tax rate. Let us now look at the revised income tax slabs under the new tax exemption limit. What's new in the new income tax regime1) Basic exemption limit is hiked from Rs 2. 45. 400(million), Rs. The income tax slab and rates for FY 2021-22 is important as it is needed to calculate income tax amount while filing ITR this year, and the income tax slabs and rates for FY 2022-23 is need to know how much tax-saving investments you need to do to. Your taxable income and filing status determine which tax brackets and rates apply to you. Income Tax Slab FY 2023-24: Check the latest Income Tax Slab Rates in India for FY 2023-24 (AY 2024-25) on ET Wealth by The Economic Times. In some cases, communal taxes may also be levied on exempted foreign-source income. 1,87,500 + 30%. Personal tax credit (for people with low income) in the Netherlands - 2,477 euros. , a shareholding of five percent or more) remains 26. 68,508+. Union Budget 2023: There is tremendous expectation that the Union Budget 2023 could provide for more net disposable income (specially for lower and middle income earners) by way of reduction in taxes or otherwise. Income Tax Slab. The new income tax slabs announced under the new tax regime are applicable for the incomes earned in the FY 2023-24, i. salary income tax slab 2023-2024 pakistan salary income tax slab 2016 2017 pakistan salary income tax slab 2017 2018 pakistanBudget 2023 announced that individuals will not have to pay any tax if the taxable income does not exceed Rs 7 lakh in a financial year. 600,000 the rate of income tax is 0%. Personal tax credit (max for incomes above € 68,507) € 0. These new tax slabs in India were presented in the Budget 2023. 000 euros in 2023. The tax rate on income from savings and investments is 30%. 93 %. 8. 25%. 42%. The new Income Tax rates are: Rs 0-3 lakh - Nil. In this case, Ram will file his income tax returns for the financial year 2022-23 (April 1, 2022, to March 31, 2023) in the assessment year 2023-24. 350(million) to Rs. Calculate monthly income and total payable tax amount on your salary. 1,00,000 + 4% cess. 1 day ago · This post was amended on 24 November 2023 to clarify that Geert Wilders was convicted in 2016 of insulting Moroccans, but not of inciting discrimination. 954 eurosTax Slabs in India 2023 The new tax regime provides a progressive tax structure, where higher income levels are subject to higher tax rates. Take a look-. Each type of investment has a different assumed rate of return associated. The corporate income tax law in the. In addition, individuals who seek to apply for EU Blue Cards on or after 1 January 2023 must have a monthly income of at least EUR 5,867 (up from EUR 5,670) at the time of filing their application. There were six income slabs starting from ₹2. Awaiting an actual fix of Box III, the Cabinet has proposed to raise the tax rate from 31% (2022) to 32% (2023), while also raising the threshold for levy from €. 7. You can save tax by investing in tax saver Fixed Deposits which can fetch you tax deduction under section 80C of the Indian Income Tax Act, 1961. 071 and upwards. At the same time, the middle class can hope for many more reliefs. On February 1, 2023, the Finance Minister will present the Union Budget 2023-24 before the Parliament. 5 lakh. 2 million. The tax credit has been gradually increased to 100% in 2006. In 2023, those earning up to 73,071 euros a year will see their income tax rate fall by 0,11% — to 36,93%, saving them up to 102 euros this year. Nil. 50 lakh – Rs. Calculations for 2023. The basic exemption limit has been raised to Rs 3 lakh from Rs 2. 93% in 2023. The Sales Tax Rate in Netherlands stands at 21 percent. In 1989, India decided to enter into a double taxation agreement with the Netherlands to help taxpayers in avoiding paying taxes on income in both Netherlands and India. A lower rate of 19% (15% in 2022) applies to the first income bracket of EUR 200,000 (EUR 395,000 in 2022). source: Tax and Customs Administration - Belastingdienst. 93%, while earnings over that limit will be taxed at 49. ₹ 300,000 to ₹ 6,00,000. ₹5 lakh to ₹9. New Income tax slabs 2023-24. advertisement. Goods and services are taxed at different rates based on their nature, category, and usage. Budget 2023 has also. A reduced rate of 9% applies to activities covered by the innovation box. , between April 1, 2023 and March 31, 2024. insertion of additional three new income slabs of Rs. With effect from 1 January 2023 the income tax rates will apply on a progressive basis for slabs of Rs. The Spring Memorandum contains the Dutch government’s budget forecast for future years and contains a number of tax policy measures to counteract certain tax-driven arrangements. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows:. Budget 2023-24 Key Takeaways: Direct tax. Income tax in the Netherlands (personal, rather than corporate) is regulated by the Wet inkomstenbelasting 2001 (Income Tax Law, 2001). 5% solidarity surcharge tax. 600,000 but does not exceed Rs. 2,400,000 but does not exceed Rs. As per the new income tax slabs 2023-24 under the new income tax regime an individual taxpayer will not have to pay any tax for Rs 7. 15% on the tax amount if the income exceeds ₹1 crore. 5. If your monthly income falls in the range of Rs50,000/- to Rs100,000/-, your tax rate will be 2. Budget 2023 Income Tax Slab Rate Change Expectations: As the economy has been resilient after the pandemic and returning to a growth trajectory, tax experts are expecting some changes in Income. The basic income tax rate was reduced from 37. Budget 2023: Finance minister Nirmala Sitharaman announced that the taxpayers with income up to ₹7 lakh now do not need to pay any income tax under both the old and. Based on the amount of the 2023 WNT norm (EUR 223,000), the tax-free remuneration amounts to EUR 66,900 per year. Total tax liability= ₹1,02,500 + 4% cess= ₹1,06,600. You need to apply for a tailored tax code first. Finance Minister Nirmala Sitharaman, who presented the 2023/24 budget last week, projected 12% growth in net GST collection for the federal government. 49. Up to €3,070 for everyone under the state pension age (€2,874 in 2022). New Income tax slabs 2023-24. Learn more about tax slabs. FM further announced the average processing time for.