Income Tax Ay 2024-25. The basic exemption limit depends on the age of an individual and status of an individual under the old tax regime. In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year (ay).
It makes the complicated tax calculation process easier, giving users precise numbers quickly. The new tax rates under the new tax regime will be applicable for incomes earned between april 1, 2023 and march 31, 2024.
The Basic Exemption Limit Depends On The Age Of An Individual And Status Of An Individual Under The Old Tax Regime.
Fm sitharaman rejigs income tax slabs under new tax regime.
Resident Senior Citizen (Who Is 60 Years Or More But Less Than 80 Years At Any Time During The Previous Year) Net Income Range:
Annual income from other sources.
The Income Tax Slabs Announced For New Tax Regime In Budget 2023 Will Come Into Effect From April 1,2023.
Images References :
Whether Opting For Taxation Under Section ?
Click here to view relevant act & rule.
Income Tax Return (Itr) And Tax Planning.
Male / female / senior citizen.
Fm Sitharaman Rejigs Income Tax Slabs Under New Tax Regime.