Income Tax Brackets 2024

Income Tax Brackets 2024. Here’s how that works for a single person with taxable income of $58,000 per year: This type of taxation allows for a fair and progressive tax system in the country.

In india, the income tax applies to individuals based on a slab system, where different tax rates are assigned to different income ranges. 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent.