The new tax regime offers the same tax rates for all individual categories, including regular individuals, senior citizens, and super senior citizens. Refer examples & tax slabs for easy calculation.
The budget 2023 had made some changes in the new tax regime for salaried individuals. No change in corporate tax rates, firms/ llp tax rates or cooperative society tax rates;
Cess Will Be Levied At 4% On Income Tax Amount.
Individuals with a net taxable income of up to rs 5 lakh qualify for a tax rebate under section 87a, resulting in zero tax liability.
The Basic Exemption Limit Depends On The Age Of An Individual And Status Of An Individual Under The Old Tax Regime.
Get the information about the old and new income tax slabs for individuals, senior citizens and super senior citizens on groww.
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Through The Finance Bill 2024, The Tax Rate For Salaried Individuals Earning Between Rs50,000 To Rs100,000 Per Month Has Been Doubled.
No change in income tax rates, surcharge, threshold limits of income tax, deduction/ exemptions prescribed under the old income tax regime as well as the new tax regime;
Finance Ministry Has Invited Suggestions On Direct.