Old Income Tax Slab For Ay 2024-25. A brief introduction to the old and new income tax regimes. What is income tax slab?
This service also provides a calculation of tax under the old or new tax regime with a comparison of tax as per the old and new regime. 5 crores) as you can see in the above table, these are the old regime tax slabs which have primarily three tax rates which are 5% for income up to โน 5 lakhs, then 20% for income up to โน 10 lakhs, and 30% for any income above โน 10 lakhs in a year.
The Basic Exemption Limit Depends On The Age Of An Individual And Status Of An Individual Under The Old Tax Regime.
E.g if there is taxable income of rs.7,00,001 then tax would be payable of rs.25,000.10.
Annual Income From Other Sources.
19256250 + (42.74% of income above rs.
Income Tax Slab For Individual Aged Above 60 Years To 80 Years.
Images References :
What Is The Income Tax Slab?
The new tax regime was introduced in budget 2020, effective april 1, 2020.
The Finance Minister Made Changes In The Income Tax Slabs Under The New Tax Regime.
Income tax slab for individual aged above 60 years to 80 years.
