Personal Income Tax Rate 2024. Income tax slabs 2024 highlights: After the amendment, the tax rate has increased to 20%, resulting in a tax liability of rs 400 (20% of rs 2,000).

State budget officials confirmed the financial triggers were satisfied, clearing the way for lawmakers to reduce the individual income tax rate to 3.5% from 4%, effective in. After the amendment, the tax rate has increased to 20%, resulting in a tax liability of rs 400 (20% of rs 2,000).