2024 Tax Rates. Sitharaman explained that the current taxation system is crucial due to the need to meet various financial demands, including funding for research and. Tax deduction at source (tds) is one of the important compliances of income tax.

Tax rates for individuals (other than senior citizen and super. For 2024, the seven federal income tax rates are 10%, 12%, 22%, 24%, 32%, 35% and 37%.