Highest Tax Bracket 2024. — for taxpayers in the highest tax bracket, defined as individuals with a taxable income of rs 15 lakh or higher, the increased standard deduction limit will result. Each individual gets the exemption, for a total of.
— the tax applies to the range of income, which is called income tax slabs. The highest surcharge limit for individuals earning above inr 5 cr under the new tax regime is 25%, and 37% under the old tax regime.