WebJul 13, 2024 · Rs 50,000 u/s 16 of Income tax act Deduction U/s 80C which is maximum 150,000. Deduction U/s 24 for interest on loan to a maximum of Rs 200,000/- Entertainment allowance and professional tax deduction for Govt. employees U/s 16 (ii) Leave travel allowance House rent allowance depending on salary structure and rent paid WebKey Comparison of Income Tax Rates of Last Three Years. Here are the main points regarding the changes in income tax rates in India over the past three financial years: Financial year 2024: There were several tax slabs for different income brackets. The maximum tax rate was 30% for individuals earning more than Rs. 10 lakhs per year. …
Salaried? Still confused about Income Tax Regime selection? Do …
WebIncome Tax Saving 2024: Know all about Income Tax savings investment options in India. Get to know how to save tax, planning and tips on saving income tax. Benchmarks . Nifty 90.1. ... How to save income tax on salary of Rs 10 … WebFeb 21, 2024 · Also Read: Use NPS, perks to reduce income tax by Rs 34,000; here's how Budget proposals to leave more money in the hands of people: FM Budget proposals under the new income tax regime will leave more money in the hands of the people and it is up to the taxpayer to decide where to put his money, Finance Minister Nirmala Sitharaman said … how to wrap hair with headwrap
Income Tax Above 5 Lakh for FY 2024-23 & AY 2024-24
WebApr 3, 2024 · The standard deduction of Rs 52,500 has been introduced under the new tax regime for salaried classes with more than Rs.15.5 lakh taxable income. The highest surcharge under the new tax regime has been reduced to 25% from 37% for people earning more than Rs 5 crore. This move brings down their tax rate from 42.74% to 39%. WebMar 22, 2024 · From net taxable income of Rs 16.30 lakh, the first Rs 2.5 lakh will be tax-exempt. This is because no tax is payable as mentioned in point 1 in the table above. The … WebThe income tax slabs has been revised from 6 to 5 under the new tax regime Basic exemption limit hiked to Rs 3 lakh from Rs 2.5 lakh under the new tax regime Standard deduction introduced for salaried individuals, pensioners under the new tax regime Highest surcharge rate reduced to 25% from 37% under the new tax regime how to wrap hair with a silk bandanas