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Income limit per year
what is the income limit per person and company to pay income tax at end of year, pls explain
Replies (2)
FY 23-24
Up to Rs 3 lakh : Nil
Above Rs 3 lakh and up to Rs 6 lakh : 5% on income over Rs 3 lakh
Above Rs 6 lakh and up to Rs 9 lakh : Rs 15000 + 10% on income over Rs 6 lakh
Above Rs 9 lakh and up to Rs 12 lakh : Rs 45000 + 15% on income over Rs 9 lakh
Above Rs 12 lakh and up to Rs 15 lakh : Rs 90000 + 20% on income over Rs 12 lakh
Above Rs 15 lakh : Rs 150000 + 30% on income over Rs 15 lakh
Different assesses has different rule but this is a gross thumb rule
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