Income Tax Brackets 2024 Single. Paying income tax is a duty of every indian citizen. โ 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%.
You pay tax as a percentage of your income in layers called tax brackets. Your taxable income is your income after various deductions, credits, and exemptions have been.