Tax Brackets 2024. The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh. An individual has to choose between new and old tax regime to calculate their income tax liability, subject to certain conditions.

Paying income tax is a duty of every indian citizen. 10%, 12%, 22%, 24%, 32%, 35% and 37% (there is also a zero rate).