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BHOPAL
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11744198t2022

Government of lndia, Ministry of Finance, Department of

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OFFICE OF THE PRINCIPAL COMMISSIONER CGST & CENTRAL #lro*
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GST Bhawan, 35-C, Administrative Area, Arera Hills, Bhopal !)->
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Phone: 0755-2755904 Fax No: 0755-2557816, email: com -
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Date: 06-09-2022

Subject: EXERCISING OPTION FOR DEDUCTION OF UNDER OLD OR

NEW RATES OF INCOME TAX FOR THE FY 2022.23.

As per the Budget for the FY 2022-23 No change an nce in the tax slabs or
rates. Thus, with no change in the income tax rates and sla an individual taxpayer
will continue to have the same tax rates depending on th tax regirne that will be
chosen for FY 2022-23. The FY 2022-23 will start from Apri 1,2022.

Effective from April 1,2020, an individual salaried axpaycr has becn given
the option to continue with the old tax regime and avail d uctions/tax exemptions
such section 80C, 80D deductions, HRA, LTA tax exempti ns etc. or to opt for the
new tax regime and forgoing deductions and tax exem ions such as Standard
Deduction, HRA Exemption, loss from house property, ded rtions granted under the
provisions of Chapter VI-A (except deduction under su section (2) of Section
80CCD) etc. The new tax regime offers lower tax rates as pared to the old tax
regime. The new/old rates of income tax are as follows:-
S. N. Total Inconte Rate of Income Tax Total Income Rate of Inconre Ta
New Scheme Old Scheme

I Upto Rs.2,50,000/ Nil (For Sr. Citi Nil

From Rs. 2.5

From Rs. 2,50,001 to
2 5% 5%
5,00,000 Citizen Rs. 3
Iakhs)
From Rs. 5,00,001 to From Rs. 5,
) l0% 20%
7,50,000 r 0,0,000

From Rs. 7,50,001

4 ts% Above Rs. 10,00,001 30%
10,00,000
From Rs. 10,00,001 to
5 20%
12,50,000
From Rs.12,50,001
5 25%

7 Above Rs. 15,00,000 30%

 ltl I (2) I OT H I B I lOZ2-ESTT -2-O p
to r COMM R-C
1t744198t2022

ired exercise their

tion u old or new
r 2023- ). This oprion
Bhopa latest by 3 1st
the sti lated time, it
Income Tax

3' It may arso be noted that the option

exercised by
", Indi
.
cannot be modified during I be final and
the present financial
V.ur.-
4 . Further, All
officers are required to submit
form l
ll*l^:]: ,u:^"j]l.*. rax rules, ts62 , which is
per Gazette
Notification of GBDT dated zg.oii,'t;.'
*:^website www.incometaxindia.gov.in.
*;,lliir,l,ffl ailable download
},;L
with copies of The form along
documen;, ;":;;r.,r*"
deductions shourd be submitted or;l. claiming
on or before 16.0!
of income tax by this section. In calculation
the nr nn^ c..!-*!--,
".".,t

?1"r\r*
kesh Ku Anjanc)
rative icer (DDO)

Copy to:
L All Officers/Staff of CGST and Central
Excise, Bhopal/S gar for
2. Notice Board, CGST & Cenirat
Excise, Hqrs/Division OI lces,
lormation.
l/Sagar.
 T-BHO ,AL
U744198t2022

P..,uranffi

O.tuits.rf@
Rent ailowancel
(i) Renr paid to the landlord
(ii) Name of the landlord
(iii) Address of the landlord
(iv) Permanent Account
Number of the landlord

Note: Permanent Account

Number shall be furnished
tggregate rent paid during if the
the previous
V*.*r."as one lakh
tra ue I c on." r, i oniillil[En-G
Deduction of in t"."r?in-
Uo..iiilg':_
(i) Interest payable/paid
to the len"der
(ii) Name and Address
of the lender
(iii) Permanent Account
Number of the Iender
(a) Financial Institutions(if
available)
(b) Employer(ifavailable)
(c) Others
Deductionum
(A) Section 80C,80CCC
and 80CCD
(i) Section 80C

(ii) Secrion 80CCC

(iii) Section 80CCD
80G, 80TTA, etc.) under

(i) seoion
(ii) section

l.^1,...
nformation given above is ' '......., do
complete ,nd .orr."t.'
I. hereby ex.ercised
'ry
l^,|-r-nn.t oprion rur deduction of Income
Tax
l*,,T":.:::,:j:^yl,l, ex stin g,r* r"gi r. du ri g F y 2022_23
rh.e i

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