Income Tax Brackets 2024-25 25th March. This write up covers all such rates. An individual has to choose between new and old tax regime to calculate their income tax liability, subject to certain conditions.

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 their income tax, based on the slab they. A new tax regime has been established by the insertion of section 115 bac in the income tax act, 1961 vide the finance act, 2020.