How-to
Income tax slabs FY 2024-25
1. Income tax slabs for FY 2024-25 under the new tax regime:
Income up to 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: A standard deduction of ₹75,000 is applicable. No exemptions for investments under Section 80C, 80D, etc., unlike the old tax regime.
2. 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: A standard deduction of ₹50,000 is applicable. Exemptions are available for investments under Section 80C, 80D, etc.