WebOne of the most impactful changes that has been announced is that the basic exemption limit has been hiked to Rs. 3 lakh from Rs. 2.5 lakh. The new income tax slabs is as follows - Up to Rs. 3 lakh - 0% tax Rs. 3 lakh to Rs. 6 lakh - 5% tax Rs. 6 lakh to Rs. 9 lakh - 10% tax Rs. 9 lakh to Rs. 12 lakh - 15% tax Rs. 12 lakh to Rs. 15 lakh - 20% tax WebFeb 1, 2024 · Income Tax Slab: Income Tax Slab Rates for FY 2024-21 (New Regime Applicable for HUF and all Individuals) ₹0.0 – ₹2.5 lakh: NIL ₹2.5 lakh – ₹3.00 lakh: 5% …
Income Tax Slab for FY 2024-23, FY 2024-22 Revised Income ...
WebMay 9, 2024 · Union Budget 2024 left Indian Taxpayers in a fuss offering two tax slabs to opt for, with a pinch of a curb in it. Though the new tax regime has slashed the income tax rates, it came out with a backdrop of eliminating tax exemptions. This article unwinds the features of the new tax structure,compares the new tax scheme v/s the old to provide you … WebFeb 17, 2024 · In Budget 2024, a new set of income tax rates has been announced for those earning up to ₹15 lakh a year. The highlights are listed below: Income between ₹5 and … high tide norwich harbor ct
Tax Rates - Central Board of Direct Taxes, Government of …
WebAug 10, 2024 · Income Tax Slab for FY 2024-21 (AY 2024-22) With every new budget, such tax slabs tend to change. Moreover, a new income tax regime was announced in Budget 2024, according to which individuals will have the option to pay taxes as per new tax slabs from FY 2024-2024. Below the age of 60 years: ‘Individuals’ (residents as well as non … WebDifferent tax rates have been provided for various categories of taxpayers and for different sources of income. Individuals/HUFs/AOP/BOI are taxed as per the different slab rates. However, companies are taxed at fixed rate, except for certain specified incomes. WebApr 11, 2024 · Tax relief is given under section 87A of the Income Tax Act, and from April 01, 2024, taxpayers with taxable income up to Rs 7 lakh will get a relief of Rs 25 thousand. Meanwhile, under the old tax regime, taxpayers with taxable income up to Rs 5 lakh will get a relief of Rs 12,500. If you have more questions regarding the new tax regime, you ... high tide neyland