2024-25 Tax Rates. Now for the new tax regime, it is enhanced to rs.75,000. In india, income tax liability is calculated on the basis of your applicable slab rates.
Note that the standard deduction available for salaried under the old and new tax regime was earlier rs.50,000. Discover the tax rates for both the new tax regime and the old tax regime.
How Much Of Your Income Is Above Your Personal Allowance.
For the fiscal year spanning from 2023 to 2024, the income tax slabs and the corresponding income tax rates are outlined in the table.
An Important Thing To Note Is That No Changes Have Been Introduced Under The Old Income Tax Regime And The Tax Slabs And Tax Rates There Remain.
Under section 115bac, individuals, hufs, aops, bois, and artificial juridical persons are taxed at progressive rates starting from nil for incomes up to rs.
2024-25 Tax Rates Images References :
Medicare Levy Surcharge Income, Thresholds And Rates.
Make informed decisions for maximum savings.
This Structure Clearly Shows How Taxes Are Calculated At Each Income Slab, Ensuring A Progressive Tax Rate That Increases With Higher Income Brackets.
Note that the standard deduction available for salaried under the old and new tax regime was earlier rs.50,000.