2024 Tax Rates And Deductions Allowed. While income between ₹ 3 lakh and ₹ 6 lakh is currently subject. Individuals with a net taxable income of up to rs 5 lakh qualify for a tax rebate under section 87a, resulting in zero tax liability.

In today’s budget 2024, the finance minister nirmala sitharaman has made changes in the income tax slabs and rates for the current financial year in the new tax regime. 10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate).