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Comparative Analysis of Income Tax Slabs Under Old vs. New Regime. Let us understand income tax slab rates under the old regime and the new regime using the following illustrations. The following examples also explain the tax slab rates of FY 2025-26 along with FY 2024-25: Case -1: When the Income is Rs.10 lakhs Particulars of Income and Deductions

Summary: For the financial year 2024-25, individual income tax slabs in India have been revised, with changes aimed at making the new tax regime more appealing.Under the new regime, income up to ₹3 lakh is tax-free, with progressively higher rates up to 30% for incomes above ₹15 lakh. Key changes include a raised standard deduction of ₹75,000 for salaried individuals, an increased family ...

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

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: Income tax slabs (Rs)

Income Tax Slabs for AOP, BOI and Artificial Juridical Person under Old & New Regime for FY 2024-25(AY 2025-26) & FY 2025-26 (AY 2026-27) ... For FY 2024-25 Individuals with a net taxable income of up to ₹ 7 lakh will be eligible for higher tax rebate upto Rs.25000/- u/s 87A under the new tax regime. Such higher rebate is also subject to ...

Here is an overview of the income tax slab rates for FY 2024-25 (AY 2025-26): New Tax Regime Until 31st March 2024: The new tax regime offers lower tax rates but does not offer many deductions and exemptions available under the old regime. These are the tax slab rates under the new tax regime for FY 2024-25 (AY 2025-26):

New Tax Regime; The New Tax Regime features revised slabs and rates with limited deductions and exemptions. For FY 2024-25, the tax slabs under the New Regime are as follows: Calculation Example. Gross Income: ₹15,00,000 Standard Deduction: ₹75,000 Taxable Income: ₹14,25,000. Tax Liability: ₹3,00,000 (Nil) = ₹0 ₹4,00,000 (5% ...

Tax Slabs for FY 2024-25 and FY 2025-26 Financial Year 2024-25. Income Slab Tax Rate; Up to ₹3 lakh: No tax ₹3 lakh – ₹6 lakh: 5% ₹6 lakh – ₹12 lakh: 10%: Above ₹12 lakh: 20%: Individuals earning below ₹7 lakh get full tax relief through rebate under Section 87A, effectively making their tax liability zero.

See the 2024 tax tables (for money you earned in 2024). Find the 2025 tax rates (for money you earn in 2025). Related. Taxable income; How to file your taxes: Step by step; IRS releases tax inflation adjustments for tax year 2025; Publication 17, Your Federal Income Tax; Page Last Reviewed or Updated: 13-Feb-2025 Share. Facebook;

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.

Understanding income tax slabs is important for effective tax planning. Whether you’re an individual, HUF, firm, company, trust, or society, knowing the latest income tax slab rates helps in making informed financial decisions. For the Financial Year 2024-25 (Assessment Year 2025-26), taxpayers can choose between two tax regimes:

Right from the starting of the new Financial Year 2024-25 that has began from 1 st April, 2024 it is important for the taxpayers to know about the income tax rates as well as income tax slabs applicable to them – both under the old tax regime and new tax regime.Further, it is also important to note that from the FY 2023-24, the new tax regime has become the default tax regime.

The income tax slab rates 2024-25 in India is divided based on your age. For age up to 60 years, you are treated as non senior citizen of India; Age 60 years and less than 80 years, you are treated as senior citizen of India; Age 80 years and above, you are treated as super senior citizen of India;

The Union Budget 2024 introduced significant reforms to the income tax slabs & rates for FY 2024-25 under new regime and capital gains tax structure, affecting individual taxpayers and investors alike. Presented by Finance Minister Nirmala Sitharaman, this budget not only tweaked the new tax regime to make it more appealing but also introduced ...

NOTE: The income tax exemption limit is up to Rs 2,50,000 for Individuals, HUF below 60 years aged, and NRIs.; Surcharge and cess will be applicable. Key Features of the New Income Tax Regime for FY 2024-25. The key features of the new tax regime for FY 2024-25 is as follows:. Default tax regime: It is the default tax regime. If individuals want to choose the old regime then they have to file ...

Income Tax Slabs for FY 2024-25 (AY 2025-26) Under New Regime. 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. ...

Income Tax Slab & Rate for FY 2024-25 Updated on April 23, 2025 , 208818 views. In India, income tax is charged based on an individual’s Income.These tax rates are based on the Range of income called income slabs. The more the income, more the tax. The tax slabs tend to undergo a change during every budget.

Income Tax Slab and Rates for FY 2024-25 (AY 2025-26) After Budget 2024. The income tax slabs for FY 2024-25 (AY 2025-26) have been revised after Budget 2024. The 30% tax rate now applies to income above ₹24 lakh instead of ₹15 lakh. There are also discussions on reintroducing deductions to benefit taxpayers.

In FY 2024-25 the new tax regime has been made the default option for individual taxpayers. However, new tax regime deductions are relatively few, eligible tax payers can still choose to opt for the old tax regime instead. When comparing the new tax regime slab rates in FY 2024-25 (AY 2025-26) vs. income tax slab rates in FY 2023-24 (AY 2024-25), it is evident that the former offers additional ...