Zenia Kellyann

Income Tax Brackets 2024-25 Champions. Individuals, including senior and super senior citizens, are taxed according to a progressive slab system, with rates ranging from 5% to 30%, depending on their income. Understand the exemption limits, tax slabs, surcharges, and eligibility for.

Here’s how that works for a single person with taxable income of $58,000 per year: The option to choose the regime can be exercised every year directly in the itr.