New Tax Brackets For 2024 Vs 2024 Lok

New Tax Brackets For 2024 Vs 2024 Lok. Income tax rates and tax slabs under the finance act 2023 have been reduced to five from six to make the new tax regime. 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.

In case your income is above 10 lakh, for which you will belong to 30% tax bracket according to old tax regime and 20% tax bracket according to new tax regime (based on. Let’s now consider a salaried taxpayer.