Income Tax Ay 2024-25. The tax slab under the new tax regime has been reduced from 6 to 5, and the basic exemption limit has been raised to rs. 45,000 + 15% on income more than rs 9,00,000.
The json utility itr forms have been released by the income tax department. Further the basic exemption limit has been hiked to rs.3 lakh from rs.2.5 earlier under the new income tax regime.
Leave Travel Allowance (Lta) X
Rs 9,00,000 to rs 12,00,000.
5% On Income Which Exceeds Rs 3,00,000 Rs 6,00,000 To Rs 900,000.
Know what are the new income tax slabs under the new tax regime from fy 2023.
Further The Basic Exemption Limit Has Been Hiked To Rs.3 Lakh From Rs.2.5 Earlier Under The New Income Tax Regime.
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Last Update March 10, 2024.
Rebate u/s 87a (max amount) 12,500:
Ca, Cs, And Tax Experts Can Also Access Advance Tax And Revised/Updated Itr Due Dates.
10% of income tax, in case taxable income is above ₹ 50 lacs.
E) Making ‘New Tax Regime’ As Default Tax Regime Option.