Income Tax Rates For Ay 2024-25 Old Regime. The new tax regime introduced in budget 2023 offers lower tax rates but does not allow most of the deductions and exemptions available under the old tax. Get the information about the old and new income tax slabs for individuals, senior citizens and super senior.
The deadline is for taxpayers, including. Individuals with a net taxable income of up to ₹ 7 lakh will be eligible for tax rebate u/s 87a under the new tax regime.
Surcharge And Cess Are Applicable As Per Rules.
Income tax exemption limit is.
Income Exceeding ₹15,00,000*30% + ₹1,50,000.
Resident individual taxpayers with a total income not exceeding rs 500,000 will be eligible for a tax rebate of rs.
This Regime Aims To Streamline Tax Calculations, Making It Easier For Those Who Don’t Have Many Deductions To Claim.
Images References :
This Regime Aims To Streamline Tax Calculations, Making It Easier For Those Who Don’t Have Many Deductions To Claim.
Click view comparison to get a more detailed comparison of tax under the old and new tax regime.
This Article Focuses On The Tax Slab Rates, Surcharges, And Exemptions For Individual Taxpayers, Senior Citizens, Super Senior Citizens, The Association Of Persons.
For old regime, a tax rebate up to rs.12,500 is applicable if the total income does not exceed rs 5,00,000 (not applicable for nris) note: