Income Tax_Slabs FY 2024-25

Oct 24, 2024

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1. Please find below the Income Tax Slabs for FY 2024-25 under the New Tax Regime:

Income Upto 3 lakh: Nil
3 lakh - 7 lakh:   5%
7 lakh - 10 lakh: 10%
10 lakh - 12 lakh: 15%
12 lakh - 15 lakh: 20%
More than 15 lakh:   30%

Note: Key Features of the New Tax Regime: Standard Deduction of ₹75,000 is applicable. No exemptions for investments under Section 80C, 80D, etc., unlike the Old Tax.

2. Please find below the Income Tax Slabs for FY 2024-25 under the Old Tax Regime:

Income up to 2.5 lakh: Nil
2.5 lakh - 5 lakh:   5%
5 lakh - 10 lakh: 20%
Above 10 lakh: 30%

Note: Key Features of the Old Tax Regime: Standard Deduction of ₹50,000 is applicable. exemptions for investments under Section 80C, 80D, etc.