🔹 Income Tax Rates Applicable for FY 2024–25
Closing the financial year ahead, here’s a quick guide to help you navigate income tax rates under the Old and New Regimes.
| NEW TAX REGIME | |
|---|---|
| Tax Slabs | Tax Rate |
| Less than 3 lakhs | No tax |
| 3,00,001 – 7,00,000 | 5% |
| 7,00,001 – 10,00,000 | 10% |
| 10,00,001 – 12,00,000 | 15% |
| 12,00,001 – 15,00,000 | 20% |
| More than 15 lakhs | 30% |
| Tax rates same irrespective of age of assesses | |
| OLD TAX REGIME | |
|---|---|
| Tax Slabs | Tax Rate |
| Less than 2.5 lakhs | No tax |
| 2.5 lakhs – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| More than 10,00,000 | 30% |
| Exemption for 60+ age (senior citizen) = ₹3,00,000 | |
| Exemption for 80+ age (super senior) = ₹5,00,000 | |
💡 Tip: The default tax regime is the new tax regime.
Â
Â
Add comment