Tax Brackets 2024 Vs 2024 Comparison

Tax Brackets 2024 Vs 2024 Comparison. The following tables show the revised income tax slabs, not the old tax regime. For an individual having an income of rs 10 lakh, the revised new income tax regime will bring a benefit.

Your taxable income and filing status determine both the tax rate and bracket that apply to you, outlining the amount you’ll owe on different portions of your income. You pay tax as a percentage of your income in layers called tax brackets.