Income Tax Slab In India 2024-24

Income Tax Slab In India 2024-24. An individual has to choose between new and old tax regime to calculate their income tax liability, subject. India's income tax system is progressive, meaning tax rates increase with higher income.

For the fiscal year spanning from 2023 to 2024, the income tax slabs and the corresponding income tax rates are outlined in the table. The highest slab rate of 30% applies on income exceeding rs.