Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Finance Act 2024: New Income Tax Rates, Exemptions for Seniors, and Surcharges for High-Income Earners</h1> The Finance Act, 2024 outlines the income tax rates applicable for the financial year beginning April 1, 2024. It modifies provisions from the Finance Act, 2023, including adjustments for individuals with agricultural income and specific tax slabs for different income brackets. For individuals under 60, income up to 2.5 lakh is exempt, with progressive rates for higher incomes. Seniors (60-80 years) have a threshold of 3 lakh, and those over 80 have a 5 lakh exemption. Surcharges apply to high-income earners, with rates varying based on income levels and entity types, including individuals, firms, and companies.