The federal government has imposed a hefty earnings tax of as much as 35% on the earnings of the salaried class.
The Funds 2024-25 paperwork present that the brand new earnings tax slabs for the salaried class will now be relevant from the tax yr 2024 i.e. on wage payable on or following July 1, 2024.
Nevertheless, it won’t matter to the salaried class incomes as much as Rs.6 lakh each year because the tax on this bracket is nil.
Revenue Bracket: Rs.1,200,000 to Rs.2,200,000 each year
Month-to-month Revenue: Rs 183,333
Annual Revenue: Rs.2200000
Earlier Month-to-month Tax: Rs 11,650
New month-to-month tax: Rs 15,000