Income Tax Brackets 2024 Individual. 2024 federal income tax rates. The government of india levies additional charges on individual taxpayers (irrespective of age) whose annual income exceeds inr 50 lakh.

For tax year 2024, which applies to taxes filed in 2025, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32, 35%, and 37%. The irs uses 7 brackets to calculate your tax bill based on your income and filing status.