WebThe new income tax slabs under the new tax regime will be applicable from April 1, 2024, for FY 2024-24. So, in April, when you submit the investment declarations to your employer … WebFeb 1, 2024 · Old tax slabs. 1) Income up to ₹ 2.5 is exempt from taxation under old tax regime.. 2) Income between ₹ 2.5 to ₹ 5 lakh is taxed at the rate of 5 per cent under the old tax regime.. 3 ...

Old vs New Income Tax Regime - Which is Better to opt …

WebJan 15, 2024 · This will reduce his taxable income to Rs 5 lakh, after which he can claim a rebate of Rs 12,500 under Section 87A. This will bring down his tax liability to zero. New tax slabs While the new tax slabs bring simplicity to taxation and have lower tax rates in the absence of any exemptions, one's tax may actually go up, as seen in the table below. WebFeb 22, 2024 · Here's what you need to know. The New Tax Regime. The new tax regime offers six tax slabs, with zero tax for income up to ₹3 lakh, and a tax rate rising by 5 … dating for gamers app

Stable Investor - Financial Planning & Investment Advisory

WebIncome Tax Calculator. Many taxpayers are confused between the old and new tax regimes. The new tax regime was introduced in Union Budget 2024. So, now individual taxpayers … WebApr 12, 2024 · 30%. Here are some of the key takeaways from the new tax regime. Let us understand the difference between old and new tax regime and the old tax regime and new tax regime. • Unlike the old tax regime that offered just 4 slabs, the new tax regime offers 6 slabs with tax advantages at each slab due to higher limits. WebFeb 1, 2024 · Income Tax Rates AY 2024-25 (New Regime) 0-Rs 3 lakh: Nil; Rs 3-6 lakh: 5%. Rs 6-9 lakh: 10%. Rs 9-12 lakh: 15%. Rs 12-15 lakh: 20%. Above Rs 15 lakh: 30%. Checking … dating for disabled app