Income Tax Surcharge Rate For Ay 2024-25

Income Tax Surcharge Rate For Ay 2024-25. Under the new tax regime, the highest surcharge rate of 37% on income above inr 5,00,00,000 has been reduced to 25%. Tax rates for ay 202425 new regime sonia eleonora, 15% of income tax if total income exceeds ₹1 crore but does not exceed ₹2 crore.

The rates of surcharge under the tax regimes are as under: An additional health and education cess at the rate of 4% will be added to the income tax liability in all cases.