Get the information about the old and new income tax slabs for individuals, senior citizens and super senior. 1) income up to ₹ 2.5 is exempt from taxation under the old tax regime.
Cess will be levied at 4% on income tax amount. Refer examples & tax slabs for easy calculation.
This Structure Clearly Shows How Taxes Are Calculated At Each Income Slab, Ensuring A Progressive Tax Rate That Increases With Higher Income Brackets.
An individual has to choose between new and old tax regime to calculate their income tax liability, subject to certain conditions.
Where The Income Exceeds Rs600,000 But Does Not Exceed.
The highest slab rate of 30% applies on income exceeding rs.
Images References :
Also, Check The Updated Tax Slabs For Individuals.
1) income up to ₹ 2.5 is exempt from taxation under the old tax regime.
This Calculator Will Work For Both Old And New Tax Slab Rates Which Were Released In 2023 And Updated In Budget 2024.