What Are The Income Tax Brackets For 2024. The budget 2023 changed the income tax slabs under the new tax regime. The government has increased the standard deduction limit to rs 75,000, allowing the salaried class to save up to rs 17,500 in taxes under the new regime.
10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate). Budget 2024 income tax updates:
Your Bracket Depends On Your Taxable Income And Filing Status.
Key features include reduced tax slabs for various income brackets, simplified compliance requirements, and the elimination of specific.
The Basic Exemption Limit Depends On The Age Of An Individual And Status Of An Individual Under The Old Tax Regime.
Under the revised structure, annual income between 0.3 million rupees and 0.7 million rupees will now attract a 5% tax rate, relaxing the earlier upper end of income of upto 0.6 million rupees.
What Are The Income Tax Brackets For 2024 Images References :
The Tax Year 2024 Maximum Earned Income Tax Credit Amount Is $7,830 For Qualifying Taxpayers Who Have Three Or More Qualifying Children, An Increase Of From $7,430 For Tax Year 2023.
