2024 Income Tax Brackets And Tax Rate. An individual has to choose between new and old tax regime to calculate their income tax liability, subject to certain conditions.  — there are seven different income tax rates:

The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh.  — for the tax year 2024, the top tax rate is 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).