Increase tax credits
AOP & Business Individuals Tax Slabs
As per the latest income tax regulations for the year 2024-2025, the following slabs and income tax rates will be applicable for AOP & Business Individuals persons:
- Where the taxable Business income does not exceed Rs. 600,000, the rate of income tax is 0%.
- Where the taxable Business income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000, the rate of income tax is 15% of the amount exceeding Rs. 600,000.
- Where the taxable Business income exceeds Rs. 1,200,000 but does not exceed Rs. 1,600,000, the rate of income tax is Rs. 90,000 + 20% of the amount exceeding Rs. 1,200,000.
- Where the taxable Business income exceeds Rs. 1,600,000 but does not exceed Rs. 3,200,000, the rate of income tax is Rs. 170,000 + 30% of the amount exceeding Rs. 1,600,000.
- Where the taxable Business income exceeds Rs. 3,200,000 but does not exceed Rs. 5,600,000, the rate of income tax is Rs. 650,000 + 40% of the amount exceeding Rs. 3,200,000.
- Where the taxable Business income exceeds Rs. 5,600,000, the rate of income tax is Rs. 1,610,000 + 45% of the amount exceeding Rs. 4,100,000.
- Where the taxable Business income exceeds Rs. 10 Million. An additional 10% tax is imposed on the calculated tax amount as per the above slabs.
