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IRS Sets 2025 Tax Brackets with Inflation Adjustments, For senior citizens (above 60 years of age), the income tax under the old regime is exempt up to rs. April 2nd, 2025 12:46 pm.

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IRS announces new tax brackets for 2025

IRS Announces New Tax Brackets for 2025, It is essential to understand the tax rates, taxpayer classifications, and income brackets to calculate the tax liability accurately. In case your income is above 10 lakh, for which you will belong to 30% tax bracket according to old tax regime and 20% tax bracket according to new tax regime (based on your income), you can make investments and claim deductions to reduce your taxable.

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IRS Announces New Tax Brackets for 2025