Income Tax Brackets 2024-25
The tcja created new, lower tax rates and increased the income thresholds before each new marginal tax bracket applied. Check here for the latest income tax slabs & details of different income tax regimes for tax slabs in india.
The government might focus on providing tax relief to specific groups, like those with higher spending, through new tax. This structure clearly shows how taxes are calculated at each income slab, ensuring a progressive tax rate that increases with higher income brackets.