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Compare the new and old tax regimes for FY 2024-25 (AY 2025-26) and learn about the changes, benefits and drawbacks of each regime. Find out the income tax slabs, rates, exemptions, deductions and surcharge for individuals, companies and firms.

Key Changes in AY 2024–25. Increased tax-free limit under the New Regime due to higher standard deduction; Introduction of a 25% slab for middle-income earners (₹20–24 lakh) Elimination of “angel tax” Revised capital gains tax structure: STCG now at 20%; LTCG at 12.5% with an exemption limit of ₹1.25 lakh

This guide offers a detailed breakdown of the current slab rates for FY 2023-24 and FY 2024-25, compares the old and new tax regimes, explains NRI taxation rules, outlines corporate tax implications, and provides effective tax-saving strategies.

Learn about the income tax slabs for the financial year 2025-26 and the assessment year 2026-27 under the old and new tax regimes. Compare the tax rates, surcharge, cess, and deductions for different categories of taxpayers.

The 2024 Budget introduced updated tax slabs in the New Tax Regime, allowing taxpayers to save an additional ₹17,500 in taxes. Furthermore, the standard deduction has been hiked to ₹75,000, and the family pension deduction has been enhanced to ₹25,000 from ₹15,000, effective for FY 2024-25.

Here are the income tax slabs for FY 2024-25 (Assessment Year 2025-26): Old Tax Regime For FY 2024-25. The old tax regime allows various deductions and exemptions but has higher tax rates. Standard Deduction. Amount: ₹50,000; Applicability: Available to salaried individuals and pensioners. ... Income Tax Slabs for FY 2025-26 (AY 2026-27)

Income Tax Slabs and Rates for FY 2024-25 as per the New Regime. The government has changed the tax slabs for FY 2024–2025 under the new regime. As a result, several relaxations have occurred. The following summarizes the main adjustments made to the slab rates: ... Are the income tax slabs different for senior and super senior citizens in AY ...

Learn how to calculate income tax for FY 2024-25 under the New and Old Tax Regimes. See an example for ₹15 lakh income and compare the tax liabilities of both regimes.

The Budget 2024 introduced significant changes to the tax slabs under the New Tax Regime, which will be applicable for FY 2024-25 (AY 2025-26). Taxpayers can now benefit from revised tax slabs, along with an increased standard deduction and an enhanced family pension deduction.

For the assessment years 2024-25 and 2025-26, tax rates under the old tax regime for individuals, HUFs, AOPs, BOIs, and artificial juridical persons offer an exemption limit of ₹2.5 lakh, with slabs of 5% on income between ₹2.5 lakh and ₹5 lakh, 20% on income between ₹5 lakh and ₹10 lakh, and 30% on income above ₹10 lakh. For senior citizens (60-80 years), the exemption limit is ...

Compare the old and new tax regimes for FY 2024-25 (AY 2025-26) and learn how to choose the best option for your income and deductions. Find out the latest updates, features, and examples of income tax slabs and rates for individuals, HUF, companies, and NRIs.

In this article, we’ll cover the latest income tax slab rates for individuals, HUFs, firms, companies, trusts, and societies, along with a comparison of the new vs. old tax regime to help you choose the best option. Income Tax Slab Rates for Individuals & HUFs New Tax Regime (FY 2024-25 / AY 2025-26)

Income Tax Slab FY 2024-2025 is a system wherein there is an assignment of different tax rates against the different income ranges.Further, the slab rates increase as the income of the person increases. This is because, in India we follow a progressi ve system and so, the tax rate increases with the increase in the income.

Here’s a deep dive into the income tax slabs & rates, the differences between the old and new regimes, and key capital gains tax updates for FY 2024-25 (AY 2025-26). Income Tax Slabs & Rates – New vs. Old Regime . The Budget 2024 has brought updates to the income tax slabs under the new tax regime, while the old tax regime remains unchanged.

The current FY 2024-25 (AY 2025-26) has witnessed modifications in the income tax slabs under the new tax regime. The adjustments have increased the upper threshold in two brackets by Rs 1 lakh.

The tax slab for AY 2024-25 and FY 2023-24 (new regime and old regime) for senior citizens having income from business/profession, under the age of 80 years, but above the age of 60 years (irrespective of their residential status) has been displayed in the section hereunder.

The Budget 2024 introduced significant changes to the tax slabs under the New Tax Regime, which will be applicable for FY 2024-25 (AY 2025-26). Taxpayers can now benefit from revised tax slabs, along with an increased standard deduction and an enhanced family pension deduction.

Current Income tax slabs under new tax regime for FY 2024-25 (AY 2025-26) Income tax slabs (Rs) Income tax rate (%) From 0 to 3,00,000: 0: From 3,00,001 to 7,00,000: 5: From 7,00,001 to 10,00,000: 10: From 10,00,001 to 12,00,000: 15: ... Income tax slabs for FY 2024-25: The finance minister Nirmala Sitharaman has not announced any change in the ...

Budget 2024 has proposed a revision in the Tax Slab for new tax regime for FY 24-25. As a result, taxpayers choosing the new tax regime stand to gain as much as Rs.17,500. What is the income tax slab for AY 2024-25 for salaried person? The income tax slab for salaried individuals is the same as that applicable to all other assessees.