2024 Tax Rates. An individual has to choose between new and old tax regime to calculate their income tax liability, subject to certain conditions. For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).
In today’s budget 2024, the finance minister nirmala sitharaman has made changes in the income tax slabs and rates for the current financial year in the new tax regime. Know all the changes announced in the new tax regime from income tax slabs to standard deduction limit in budget 2024.