New Tax Slab 2024-24. The general slab rates applicable in the case of an individual or huf are 5%, 20%, and 30%. Check out the latest income tax slab for salaried, individuals and senior citizens by the it department.
Recently, in budget 2023, the government has reduced the slab rates for taxpayers and extended the standard deduction benefit to salaried individuals and pensioners in the new tax regime. Here’s our latest guide on the new income tax slab for both old and new tax regimes for individuals below 60 years and senior citizens.
Refer Examples &Amp; Tax Slabs For Easy Calculation.
However, the taxpayers will have the option to continue with the old income tax regime.
The Finance Act, 2020 Inserted A New Section 115Bac Which Provides For An Alternative Tax Regime For Individuals And Huf.
B) increase in the rebate limit to rs.7 lakh in the ‘new tax regime’.
New Tax Slab 2024-24 Images References :
The New Income Tax Slab Is Allowed In The Budget 2023.
C)extend the benefit of standard deduction to the ‘new tax regime’.
Budget 2024 Income Tax Changes:
The following tables show the revised income tax slabs, not the old tax regime.
