Tax Brackets 2024 Vs 2024 Income. The income tax slabs for that continue to be a nil tax up to rs 2.5 lakh income, 5% tax between rs 2.5 lakh and rs 5 lakh, 20% tax rate between rs 5 lakh and. For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%.

The new 2024 tax brackets have higher income thresholds as they are adjusted for inflation. For tax year 2024, the foreign earned.