What Are The Tax Brackets For 2024-25 202425 India

What Are The Tax Brackets For 2024-25 202425 India. The current tax slabs, established in 2013, have seen minimal adjustments, with the basic exemption limit last raised to rs 2.5 lakhs in 2015. Budget 2024 income tax live:

Section 115bac of the income tax act, introduced in the union budget 2020, offers a new tax regime with lower tax rates and reduced deductions. Highlights include revised tax slabs, increased deductions, and simplified taxation.