New Tax Brackets 2024 Vs 2024. Compare the tax brackets for last year and this year to get a sense of where your income stacks up in the eyes of the irs. There are seven (7) tax rates in 2024.

For lower income ranges, the new regime is more advantageous due to the higher rebate, which exempts taxpayers with a taxable income of up to ₹7 lakh, compared to ₹5 lakh under the old regime. Your bracket depends on your taxable income and filing status.