WebJan 17, 2024 · Rs 5 lakh Home loan deduction limit Puri said there is a need to hike the Rs 2 lakh tax rebate on housing loan interest rates under Section 24 of the Income Tax Act to at least Rs 5 Lakh. WebIncome Tax Slab in FY 2024-24 for Senior Citizens. SENIOR CITIZENS (Above 60 to 80 years) NET INCOME RANGE. OLD REGIME TAX RATE. NEW REGIME TAX RATE. INR 2.5 lakh to INR 3 lakh. Nil. 5%. INR 3 ...

Section 80C : Deduction under Section 80C in India

Web1 day ago · The rebate is hiked to Rs 7 lakh from Rs 5 lakh under the new tax regime. Thus, individuals having an income up to Rs 7 lakh and opting for the new tax regime do not have to pay any taxes. 5.1 An individual having total taxable income up to Rs. 7 lakhs will get the tax benefit of Rs 25000 or the amount of tax payable (whichever is lower). WebApr 14, 2024 · Income Tax Return Income Tax Return (ITR) is a form used to report the details of an individual’s or a business’s income and taxes paid to the Incom. Menu. Income Tax. Articles; News; ... For individuals, the basic exemption limit for the financial year 2024-23 is Rs. 2.5 lakhs. For senior citizens (aged 60 years or more but less than 80 ... great ocean road half marathon

Income Tax Filing: Salaried individuals should not delay selecting ...

WebDec 26, 2024 · Individuals earning high-income above 15 lakh do tax planning on their salary to lower the income tax burden on their taxable income. Let us consider ways to compute … WebFeb 3, 2024 · Under the new income tax regime, the basic tax exemption limit has been hiked to Rs 3 lakh from the present Rs 2.5 lakh. Other than that the common exemptions such … WebDec 26, 2024 · 25%. Above INR 15 lakh. 30%. Additionally, 4% Cess and Surcharge (as applicable) is also required to be paid by the taxpayer. Here are some points regarding the Tax Slab Rates – (including New and Old tax slabs) 5% is the minimum tax rate applied to a taxpayer, whereas 30% is the maximum in both tax regimes. great ocean road helicopter price