Income Tax Slabs FY 2024-25
New Tax Regime (Default)
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3 lakhs | Nil |
| ₹3-7 lakhs | 5% |
| ₹7-10 lakhs | 10% |
| ₹10-12 lakhs | 15% |
| ₹12-15 lakhs | 20% |
| Above ₹15 lakhs | 30% |
Old Tax Regime
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2.5 lakhs | Nil |
| ₹2.5-5 lakhs | 5% |
| ₹5-10 lakhs | 20% |
| Above ₹10 lakhs | 30% |
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Rebate u/s 87A
In new regime, if taxable income is ≤ ₹7 lakhs, you pay zero tax. In old regime, rebate is available if taxable income ≤ ₹5 lakhs.