2024 Income Tax Brackets Married Jointly India. In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year (ay). An individual has to choose between new and old tax regime to calculate their income.
For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing. 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,.
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