Old Income Tax Slab For Ay 2024-25. 2) tax rebate under section 87a. In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year (ay).
For this year, the financial year will be. 30% of the total income that is more than rs.10 lakh + rs.1,12,500 + 4% cess.
Surcharge Is Applicable As Per Tax Rates Mentioned Below For All Categories Mentioned Above:
20% of the total income that is more than rs.5 lakh + rs.12,500 + 4% cess.
The Tax Slabs And Rates Are The Same For All Individuals And Hufs Under The New Regime.
The income tax slab rates differ between the old and new tax regimes.
15% Of Income Tax If.
Images References :
2) Tax Rebate Under Section 87A.
Following are the steps to use the tax calculator:
20% Of The Total Income That Is More Than Rs.5 Lakh + Rs.12,500 + 4% Cess.
Budget feb 1, 2023 (income tax slab updates) 1) income tax exemption limit increased from rs 2.5 lakh to rs 3 lakh.
Furthermore, The Old Tax Regime Divided The Slab Rates Into Three Categories.
