New Tax Brackets 2024 Vs 2024 Olympics. The change will raise the top tax rate of 37% to $609,350 for individuals and $731,200 for married couples filing jointly—up from the current tax season’s threshold of. The new tax slabs under the new income tax regime will be effective from april 1, 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. Benefits of the new tax regime: