Tax Brackets 2024 India Old Regime. New income tax slabs and tax rates under the revised tax regime. Available for incomes up to rs 5 lakh.
Age 60 years and less than 80 years, you are treated as senior citizen of india. As already outlined, the new tax regime has six different income tax slabs as compared to three under the old tax regime.
The Choice Between The New And Old Tax Regimes Depends On Your Eligible Deductions And Exemptions.
Under section 115bac of the income tax act, the new tax regime offers simplified tax brackets and rates for individuals, hufs, aops, bois, and ajps, along with a full tax rebate for individuals with an annual income of up to โน7 lakhs.
Salaried Employees Can Choose Between Old And New Tax Regime To Calculate Tax Liability.
As already outlined, the new tax regime has six different income tax slabs as compared to three under the old tax regime.
The Slabs And Tax Treatment Vary In The New Tax Regime And The Old Tax Regime.
Images References :
10% Tax โน9,00,001 To โน12,00,000:
The choice between the new and old tax regimes depends on your eligible deductions and exemptions.
Age 80 Years And Above, You Are Treated As Super Senior Citizen Of India.
Initially, targeting individuals and hindu undivided.
Know The Current Slabs To Calculate Your Tax Payable.
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