FY23 has ended and it is important for taxpayers to know that their default tax option will be the new tax regime. As per this, 5% tax will be applicable between 3 to 6 lacs, 10% between 6 to 9 lacs, 15% between 9 to 12 lacs, 20% between 12 to 15 lacs and 30% at 15 lacs and above.