Web5 rows · Nov 7, 2024 · Read on to know which tax regime slab you come under when fulfilling your tax-paying ... Web1 day ago · Table on tax outgo under new tax regime and old tax regime. The government announced changes in income slabs and tax rate in the NTR. While tax slabs were redcued from seven to six, the 25 per cent tax rate applicable on income falling between Rs 12.5 lakh to Rs 15 lakh till last year was removed (see table for new tax slabs under NTR).
Income Tax Slabs and Rates For FY 2024-24 - Old & New Tax …
Web2 days ago · Income tax slabs under old income tax regime The old tax regime, which allows for exemptions and deductions, has a basic exemption limit of ₹ 2.5 lakh. Also, … Web1 day ago · New income tax slabs: The number of income tax slabs has been reduced from six to five. This means that the income tax rates have been simplified under the new tax regime. Hike in basic exemption limit: The basic exemption limit has been increased from Rs 2.5 lakh to Rs 3 lakh under the new tax regime. how do i remove genital warts
New and Old tax Regime slab Rates for FY 2024-24 & FY 2024-23
WebFeb 2, 2024 · Now in the current example, your tax liability, if income is ₹ 9 lakhs, would be:. Up to ₹ 6 lakhs: ₹ 15,000 [ ₹ 3 lakhs*5%]. Up to ₹ 9 lakhs: ₹ 30,000 [ ₹ 3 lakhs*10%]. Total tax liability, as per finance minister, would be ₹ 45,000. Hence, Tax liability as per old tax rates = ₹ 60,000 Tax liability as per new tax rates = ₹ 45,000 Total tax saved would be = ₹ 15,000 Web2 days ago · Income tax slabs under old income tax regime The old tax regime, which allows for exemptions and deductions, has a basic exemption limit of ₹ 2.5 lakh. Also, those having an annual income of ... WebFeb 2, 2024 · Taxes on a salary income of Rs 15 lakhs will be as below: Under the old tax regime (assuming that you are claiming deduction and exemptions amounting to Rs. 2lakhs) ... Income tax slabs 2024 under the new income tax regime have been revised. They are; NIL tax up to Rs 3 lakh income; 3-6 lakh 5% tax rate, 6-9 lakh 10% tax rate, 9-12 lakh 15% tax ... how do i remove friends