Social Security Income Limit 2024. For 2024, the social security tax limit is $168,600 (up from $160,200 in 2023). The earnings limit for workers who are younger than full retirement age (see full retirement age chart) will increase to $22,320.
The budget was presented in july instead of february due to the lok sabha elections 2024 held in april, may, and june, as opposed to the usual february presentation. The withholding tax rate on mutual fund income for resident individuals has been set at 10%.however, if the annual income from mutual funds exceeds rs.