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    related to: 2023 2024 income tax rate
  2. TAX GUIDE FOR FY 2024-25 / Tax slabs / tax rebates / Estimate your income tax now. Stay Ahead of the Game and Plan Your Taxes for FY 24-25 with Our Guide!

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  1. 3 days ago · The article explains the concept of income tax slabs under old and new regimes, the revised tax rates for FY 2024-25, how to calculate income tax, meaning of surcharge, budget updates impact, and consequences of not filing ITR on time.

    • Tax Rates applicable to Individuals (Resident / Non Resident) for FY 2023-24 (AY 2024-25) Following Tax Rates are applicable for assessee opting for ‘Old Tax Regime’
    • Income Tax Rate applicable to HUF, AOP, BOI, Other Artificial Juridical Person – Old Tax Regime for FY 2023-24 (AY 2024-25) Net Income Range. Rate of Income Tax.
    • New Tax Regime for Individual, HUF, AOP,BOI, AJP u/s. 115BAC for FY 2023-24 (AY 2024-25) These are Special Rates for Individual, HUF, AOP, BOI, AJP u/s.
    • Income Tax Rates applicable to Company for FY 2023-24 (AY 2024-25) 4.1 Domestic Company. Normal Income-tax rates applicable in case of domestic companies are as follows
  2. Sep 3, 2024 · Article covers Income Tax Rates for Financial Year 2023-24 and 2024-25. The tax rates applicable to different categories of taxpayers, such as individuals, HUFs, AOPs, BOIs, and companies, vary based on the nature of the taxpayer and the source of income.

    • Individuals. (Other than senior and super senior citizen) Net Income Range. Rate of Income-tax. Assessment Year 2024-25. Assessment Year 2023-24. Up to Rs. 2,50,000.
    • Rate of Surcharge. Assessment Year 2024-25. Assessment Year 2023-25. Range of Income. Rs. 50 Lakhs to Rs. 1 Crore. 1 Crore to Rs. 2 Crores. 2 Crores to Rs.
    • Range of Income. Rs. 50 Lakhs to Rs. 1 Crore. 1 Crore to Rs. 2 Crores. Exceeding Rs. 2 crores. 10% 15% 25% Note: The enhanced surcharge of 25% is not levied, from income chargeable to tax under sections 111A, 112, 112A and 115AD.
    • Domestic Company. Assessment Year 2023-24. Assessment Year 2024-25. ♦ Where its total turnover or gross receipt during the previous year 2020-21 does not exceed Rs.
  3. Feb 4, 2023 · The changes announced in the income tax slabs under the new tax regime is applicable for incomes earned in current the FY 2023-24, starting from April 1, 2023. Know what are the new income tax slabs under the new tax regime from FY 2023-24 and how they are different from existing ones.

    • Preeti Motiani
  4. Sep 10, 2024 · Frequently Asked Questions. Budget 2024 Update. FM Nirmala Sitharaman has made two announcements for those opting for the new tax regime. First, the standard deduction for salaried employees is proposed to be increased from Rs 50,000/- to Rs 75,000/-.

  5. Feb 1, 2023 · The government has reduced the surcharge of the highest rate from 37% to 25% in new tax regime. The new income tax slabs announced under the new tax regime are applicable for the incomes earned in the FY 2023-24, i.e., between April 1, 2023 and March 31, 2024.