Further, the benefit of new tax regime has also extended to association of persons (aop)/body of individuals (boi) and artificial juridical person (ajp) w.e.f. There's zero tax on those whose earnings do not surpass rs600,000.
Individuals with a net taxable income of up to rs 5 lakh qualify for a tax rebate under section 87a, resulting in zero tax liability. Education cess is applicable @ 4% on income tax 2.
Discover The Tax Rates For Both The New Tax Regime And The Old Tax Regime.
The basic exemption limit depends on the age of an individual and status of an individual under the old tax regime.
There's Zero Tax On Those Whose Earnings Do Not Surpass Rs600,000.
Education cess is applicable @ 4% on income tax 2.
Images References :
The New Tax Regime Offers The Same Tax Rates For All Individual Categories, Including Regular Individuals, Senior Citizens, And Super Senior Citizens.
Get the information about the old and new income tax slabs for individuals, senior citizens and super senior citizens on groww.
The Tax Rate Has Increased From 2.5% To 5% For Those Earning Between Rs600,000 And Rs1,200,000 Per Annum.
Income tax slabs and rates for resident individuals below 60 years of age, nri and hufs
