New tax slabs and maturity on different tax slabs

Question

Accepted Answer

New tax slabs have been introduced with varying rates based on income levels. Maturity on different tax slabs refers to the time period after which the tax benefits or liabilities are realized.

New tax slabs have been introduced in recent budget announcements, with different rates applicable based on income levels.
Maturity on different tax slabs refers to the time period after which the tax benefits or liabilities associated with a particular slab are realized.
For example, if an individual falls under the new tax slab of 10% for income between $50,000 to $100,000, the maturity on this slab would be the end of the financial year when the tax liability is calculated and paid.