Latest Income Tax Slabs in India for FY 2024-25 (AY 2025-26)
Understanding India’s latest Income Tax slabs requires distinguishing between the Old Tax Regime and the New Tax Regime, as taxpayers can choose between them. Financial Year 2024-25 (Assessment Year 2025-26):
Latest Income Tax Slabs in India:
Old Tax Regime:
- Allows taxpayers to claim various deductions and exemptions.
- Slab rates vary based on age.
New Tax Regime:
latest Income Tax:
- Offers lower tax rates but with fewer deductions and exemptions.
- Aims to simplify the tax process.
- Recent changes have made the new tax regime more attractive.
New Tax Regime (FY 2024-25 / AY 2025-26):
| Annual Income (₹) | Tax Rate |
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 to ₹6,00,000 | 5% |
| ₹6,00,001 to ₹9,00,000 | 10% |
| ₹9,00,001 to ₹12,00,000 | 15% |
| ₹12,00,001 to ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
Old Tax Regime (FY 2024-25 / AY 2025-26):
For Individuals Below 60 Years
| Annual Income (₹) | Tax Rate |
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
For Senior Citizens (60 to 80 Years):
| Annual Income (₹) | Tax Rate |
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 to ₹5,00,000 | 5% |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
For Super Senior Citizens (Above 80 Years):
| Annual Income (₹) | Tax Rate |
| Up to ₹5,00,000 | Nil |
| ₹5,00,001 to ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Important note:
Government Updates: Tax rates are subject to government notifications and changes.
Leave a Reply