Basic Exemption Limit For Ay 2024-24. Income tax slab for individual between 60 to 80 years of. 3 lakhs and number of tax slabs have bene reduced to five as under:.
Will i receive an exemption on leave encashment under the new tax regime? Surcharge and cess are applicable as per rules.
The Section 87A Rebate In The New Tax Regime Now Applies To.
The number of income tax slabs has been reduced from six to five.
However, The New Regime Has Increased This Exemption Limit To Inr 3 Lakh.
Itโs important to note that these new income tax.
The Basic Income Exemption Limit For Individuals Under 60 Years Of Age Is โน 2.5 Lakh, While It Is โน 3 Lakh For Those Who Are Aged 60 Years And Above But Under 80.
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Surcharge And Cess Are Applicable As Per Rules.
Additional health and education cess at the rate of 4 % will be added to the income tax liability in all.
Do Not Confuse This Rebate With The Basic Exemption Limit.
Basic exemption limit for nris is of rs 2.5 lakh irrespective of age.