2024 Tax Rates And Deductions In India. Calculate your income tax, social security and pension. Speaking of the new tax regime, the lower tax rates it offers come at the cost of fewer deductions and exemptions, compared to the old regime.
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. Budget 2024 had a small relief for the salaried middle class as standard deduction.
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