Income Tax Slab Rates FY 2024–25 (AY 2025–26) — All Categories
The complete reference for income tax slab rates — new regime, old regime, senior citizens, super senior citizens, surcharge, and cess. Updated for Budget 2024.
📋 In This Article
Quick Facts — FY 2024–25
✅ New regime is default from FY 2023–24. You must actively opt for the old regime when filing your return if you want to claim deductions.
New Tax Regime Slabs — FY 2024–25
Applicable to all individuals regardless of age. Standard deduction of ₹75,000 for salaried employees.
| Income Slab | Tax Rate | Tax on Slab |
|---|---|---|
| Up to ₹3,00,000 | Nil | ₹0 |
| ₹3,00,001 – ₹7,00,000 | 5% | Up to ₹20,000 |
| ₹7,00,001 – ₹10,00,000 | 10% | Up to ₹30,000 |
| ₹10,00,001 – ₹12,00,000 | 15% | Up to ₹30,000 |
| ₹12,00,001 – ₹15,00,000 | 20% | Up to ₹60,000 |
| Above ₹15,00,000 | 30% | ₹90,000 + 30% of excess |
💡 Rebate u/s 87A: If taxable income ≤ ₹7 lakh under new regime, full tax is rebated — you pay zero tax.
Old Tax Regime Slabs — Below 60 Years
Standard deduction of ₹50,000. All deductions (80C, HRA, 80D, etc.) allowed.
| Income Slab | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Senior & Super Senior Citizen Slabs (Old Regime)
Senior Citizens — Age 60 to 80 Years
| Income Slab | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Super Senior Citizens — Above 80 Years
| Income Slab | Tax Rate |
|---|---|
| Up to ₹5,00,000 | Nil |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Surcharge Rates
Surcharge is levied on the income tax (not on income) when total income exceeds certain limits:
| Total Income | Surcharge Rate |
|---|---|
| Up to ₹50 Lakh | Nil |
| ₹50 Lakh – ₹1 Crore | 10% |
| ₹1 Crore – ₹2 Crore | 15% |
| ₹2 Crore – ₹5 Crore | 25% (new: 25%) |
| Above ₹5 Crore | 25% (new: 25%) |
Health & Education Cess: 4% is added on (tax + surcharge) for all taxpayers.
Rebate under Section 87A
| Regime | Income Limit | Max Rebate | Effective Tax |
|---|---|---|---|
| New Regime | Up to ₹7,00,000 | ₹25,000 | Zero tax |
| Old Regime | Up to ₹5,00,000 | ₹12,500 | Zero tax |
⚠️ Important: Rebate u/s 87A is not available on special rate income like LTCG under Section 112A (equity gains taxed at 10%).
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