Taxpayers earning up to ₹3 lakh per year don't have to pay tax under the new regime. Meanwhile, 5% income tax is levied on ₹3-6 lakh income, 10% on ₹6-9 lakh, 15% on ₹9-12 lakh, 20% on ₹12-15 lakh and 30% on above ₹15 lakh. Further, there's no tax liability on income of up to ₹7 lakh under new regime.