Eic For 2024 Tax Year In India. Find out the nature, eligibility and conditions of each deduction. Dipesh jain, partner at economic laws practice, notes that the revised tax slabs will benefit individuals with annual incomes up to rs 7 lakh, who previously faced a 10% tax rate but will now be taxed at 5%.
Income tax slabs 2024 highlights: The government has increased the standard deduction limit to rs 75,000, allowing the salaried class to save up to rs 17,500 in taxes.