Income Tax Rate changed, Check new Income Tax Slab in 2024

As part of the Budget 2024 presentation, the Finance Minister announced revisions to the new tax regime.

Revised Tax Structure

• Income up to Rs 3 lakh: Nil
• Income from Rs 3 lakh to Rs 7 lakh: 5%
• Income from Rs 7 lakh to Rs 10 lakh: 10%
• Income from Rs 10 lakh to Rs 12 lakh: 15%
• Income from Rs 12 lakh to Rs 15 lakh: 20%
• Income above Rs 15 lakh: 30%

Conclusion

These changes aim to provide relief and simplify the tax structure for taxpayers.