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28 Οκτ 2024 · Income tax in India follows a progressive slab rate system under the Income-tax Act, 1961 with old and new regimes offering different tax rates and deductions. For FY 2024-25, the tax slabs have been revised providing more opportunities to save on taxes.
The Income and Tax Calculator service enables both registered and unregistered e-Filing users to calculate tax as per the provisions of Income Tax Act, Income-tax rules, Notifications etc. by providing inputs with respect to income (s) earned and deductions claimed as per the Act.
The income tax slabs in the new tax regime have been tweaked for the current FY 2024-25 (AY 2025-26). The changes in the income tax slabs raised the upper limit in two slabs by Rs 1 lakh. The Rs 3 lakh-Rs 6 lakh slab has become Rs 3 lakh-Rs 7 lakh; and the Rs 6 lakh-Rs 9 lakh slab has become Rs 7 lakh-Rs 10 lakh.
Calculate the tax on your income in India in a few simple steps through online income tax calculator. Also check tax slabs, tax regimes, and how to calculate tax with examples.
Here's our latest guide on the new income tax slab for both old and new tax regimes for individuals below 60 years and senior citizens.
25 Ιουν 2024 · What are Income Tax Slabs in India? Be it the old tax regime slabs or the new ones, the income tax slabs of India embody a mechanism through which individual taxpayers in India pay...
11 Απρ 2024 · India’s income tax system works on a slab system. Your income is categorized into different brackets (slabs) with corresponding tax rates. The tax rates are higher if your income is high. This ensures a fair system where everyone contributes proportionately. Assessment Year (AY) and Tax Brackets.
