2024 Tax Rates And Deductions Allowed. Income tax slabs relaxed from incomes up to rs 10 lakh. 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.

Highlights include revised tax slabs, increased deductions, and simplified taxation. The capital gains tax regime was completely revamped with tax rates being increased.