Tax Rates 2024-25. Make new tax regime the default tax regime for the assessee being an individual, huf,. As a result, persons with higher incomes will have to pay more taxes.
The government has reduced the surcharge of the highest rate from 37% to 25% in new tax regime. How much income tax you pay in each tax year depends on:
This Regime Aims To Streamline Tax Calculations, Making It Easier For Those Who Don’t Have Many Deductions To Claim.
Refer examples & tax slabs for easy calculation.
The Income Tax Slab Changes Announced In Budget 2023 Are Effective For The Previous Financial Year Between April 1, 2023, And March 31, 2024, And Are Set To.
But, currently tax on income is payable only if the net taxable income for a fiscal exceeds rs.
10% Of Income Tax If Total Income ≫ Rs.50 Lakh15% Of Income Tax If Total Income ≫ Rs.1 Crore25% Of Income Tax If Total Income ≫ Rs.2 Crore37% Of Income Tax If.
Images References :
2024 May 28, 19:18, The Government Has Made Changes In The Tax Rates Of Different Goods And Commodities Through The Upcoming Fiscal.
Make new tax regime the default tax regime for the assessee being an individual, huf,.
The Changes Announced In The Income Tax.
Calculator results may be slightly different to other government agencies’ calculations.
10% Of Income Tax If Total Income ≫ Rs.50 Lakh15% Of Income Tax If Total Income ≫ Rs.1 Crore25% Of Income Tax If Total Income ≫ Rs.2 Crore37% Of Income Tax If.