Which tax slabs will apply to payrolls processed from April 24 to July 24?

An income tax slab is a range of income defined by the government to tax individuals at different rates.

For payrolls processed from April 24 to July 24, the old tax slabs will be followed. Any income tax calculations during this period rely on the previous tax structure. The newly introduced tax slabs in the budget for FY 2024-25 do not apply.

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