Income Tax Slab Rates For Ay 2024-25. Previously, this group paid rs1,250, but the new rate will. Surcharge will be applicable on incomes above rs 50 lakh.
Income tax slabs 2024 there’s zero tax on those whose earnings do not surpass rs600,000. Surcharge will be applicable on incomes above rs 50 lakh.
Also, No Changes Have Been Announced In The Deductions And Exemptions That Are Available.
The finance minister made changes in the income tax slabs under the new tax regime.
The Finance Minister Has Made No Changes In The Regular Tax Regime In The Union Budget 2023.
Tds rate chart for ay 2024 25 image to u, 1 crore, a tax audit is not needed, regardless of the profit rate declared.
Surcharge, Marginal Relief And Health &Amp; Education Cess.
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Surcharge Will Be Applicable On Incomes Above Rs 50 Lakh.
The tax liability would be calculated as follows:
Additionally, The Rebate Under Section 87A Has Been Raised, Meaning Individuals Earning Up To Rs 7 Lakh Annually Do Not Have To Pay Any Income Tax Under The New Regime.
The highest surcharge rate has been reduced from 37% to 25% under the new tax regime.