New Tax Regime Income Tax Slab Rates for FY 2025-26
The revised tax slabs under the new regime that are applicable from 1st April 2025 are as follows:
The Rebate has been increased to Rs. 60,000 from Rs. 25,000 for the FY 2025-26. With the revised tax structure, individuals earning up to Rs.12 lakhs will have no tax liability due to the increased rebate of Rs.60,000. For salaried individuals, the tax liability will be zero for incomes up to Rs.12.75 lakhs due to the Rs.75,000 standard deduction.
Note:
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The marginal relief on the rebate is still applicable.
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The rebate is not available for income that is taxed at special rates (e.g., capital gains under section 112A).
You can also use Income tax calculator to find out your tax liability.
New Tax Regime Income Tax Slab Rates for FY 2024-25
If you're filing your income tax return for FY 2024-25, these are the tax slabs that apply to the income earned between 1st April 2024 and 31st March 2025. The due date for filing your return is 15th September for non-audit cases and 31st October for audit cases.
Features of New Tax Regime
The following are the features applicable only for new regime:
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Tax rates are the same for all categories of Individuals, i.e. Individuals, Senior citizens, and Super senior citizens.
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Rebate: Tax rebate up to Rs.25,000 is applicable if the total income does not exceed Rs. 7,00,000 (not applicable for NRIs).
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Standard Deduction: Allowed for salaried employees is Rs.75,000.
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Deduction under Family Pension: Increased from Rs.15,000 to Rs.25,000.
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NPS Contribution: The deduction limit on employer's contribution to NPS is 14% for FY 2024-25.
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Surcharge: The highest surcharge rate is 25% as opposed to 37% in the old.
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The new regime is the default tax regime.
You can also download the income tax slabs in PDF format for quick reference and future use
Old Tax Regime Income Tax Slab Rates for FY 2024-25
There were no changes made to the tax slabs under the old regime. The tax slabs under the old regime are as follows:
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Individuals less than 60 Years of Age
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Resident Individuals Aged 60-80 Years
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Resident Individuals Aged more than 80 Years
Note:
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Surcharge and cess will be applicable.
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Individual residents with net taxable income less than or equal to Rs.5 lakh will be eligible for tax rebate u/s 87A under the old tax regime, i.e. tax liability will be NIL.