Tax Slab For Fy 2024-24. Also, check the updated tax slabs for individuals. By taxconcept february 3, 2024.
This article summarizes income tax rates, surcharge, health & education cess, special rates, and rebate/relief applicable to various categories of persons viz. 1) income tax exemption limit increased from rs 2.5 lakh to rs 3 lakh.
The New Tax Regime Has The Same.
2) tax rebate under section 87a increased from rs 5 lakh to rs 7 lakh.
3) Going Forward, The New Income Tax Regime Is The Default Tax Regime.
Here’s our latest guide on the new income tax slab for both old and new tax regimes for individuals below 60 years and senior citizens.
Tax Slab For Fy 2024-24 Images References :
How To Calculate Income Tax From Income Tax Slabs?
Higher basic exemption limit of inr 3 lakh under the new regime (increased from inr 2.5 lakh).
Make New Tax Regime The Default Tax Regime For The Assessee Being An Individual, Huf, Aop.
However, the taxpayers will have the option to continue with the old income tax regime.