Tax Brackets For 2024 Income Limit . Section 194p of the income tax act, 1961 provides conditions for exempting senior citizens from filing income tax returns aged 75 years and above. Here’s how that works for a single person with taxable income of $58,000 per year:
The senior citizen will submit a declaration. In the 2024 budget, finance minister nirmala sitharaman announced the following tax slabs under the new tax regime:
Tax Brackets For 2024 Income Limit Images References :
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