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What is the income tax slab for Financial Year 2025-26 (or Assessment year 2026-27) as per new tax regime?
Income Slab | Tax Rate |
---|---|
Upto 4,00,000 | Nil |
From Rs.4,00,001 to Rs.8,00,000 | 5% + Cess |
From Rs.8,00,001 to Rs.12,00,000 | 20,000 + 10% of (Taxable income - Rs.8 lakh) + Cess (Rs.25,000 rebate will be available to individuals who have an income of up to Rs.8 lakh under Section 87A of the Income Tax Act, 1961) |
From Rs.12,00,001 to Rs.16,00,000 | 60,000 + 15% of (Taxable income - Rs.12 lakh) + Cess |
From Rs.16,00,001 to Rs.20,00,000 | 1,20,000 + 20% of (Taxable income - Rs.16 lakh) + Cess |
From Rs.20,00,001 to Rs.24,00,000 | 2,00,000 + 25% of (Taxable income - Rs.20 lakh) + Cess |
Income above Rs 24,00,001 | 3,00,000 + 30% of (Taxable income - Rs.24 lakh) + Cess |
What is the income tax slab for Financial Year 2024-25 (or Assessment year 2025-26) as per new tax regime?
Income Slab | Tax Rate |
---|---|
Upto 3,00,000 | Nil |
From Rs.3,00,001 to Rs.7,00,000 | 5% + Cess |
From Rs.7,00,001 to Rs.10,00,000 | 20,000 + 10% of (Taxable income - Rs.7 lakh) + Cess (Rs.25,000 rebate will be available to individuals who have an income of up to Rs.7 lakh under Section 87A of the Income Tax Act, 1961) |
From Rs.10,00,001 to Rs.12,00,000 | 50,000 + 15% of (Taxable income - Rs.10 lakh) + Cess |
From Rs.12,00,001 to Rs.15,00,000 | 80,000 + 20% of (Taxable income - Rs.12 lakh) + Cess |
Income above Rs 15,00,001 | 1,50,000 + 30% of (Taxable income - Rs.15 lakh) + Cess |
What is the income tax slab for Financial Year 2024-25 (or Assessment year 2025-26) as per old tax regime?
Income Slab | Tax Rate |
---|---|
Upto 2,50,000 | Nil |
From Rs.2,50,001 to Rs.5,00,000 | 5% + Cess (Rs.12,500 rebate will be available to individuals who have an income of up to Rs.5 lakh under Section 87A of the Income Tax Act, 1961) |
From Rs.5,00,001 to Rs.10,00,000 | 12,500 + 20% of (Taxable income - Rs.5 lakh) + Cess |
Income from Rs 10,00,001 – 50,00,000 | 1,12,500 + 30% of (Taxable income - Rs.10 lakh) + Cess |
What is Salary and it’s components?
Income Slab | Tax Rate |
---|---|
Upto 2,50,000 | Nil |
From Rs.2,50,001 to Rs.5,00,000 | 5% + Cess (Rs.12,500 rebate will be available to individuals who have an income of up to Rs.5 lakh under Section 87A of the Income Tax Act, 1961) |
From Rs.5,00,001 to Rs.10,00,000 | 12,500 + 20% of (Taxable income - Rs.5 lakh) + Cess |
Income from Rs 10,00,001 – 50,00,000 | 1,12,500 + 30% of (Taxable income - Rs.10 lakh) + Cess |
What is the difference between CTC & Take Home Salary?
How much is Basic Salary of CTC?
What is Gratuity? When can you avail it?
What is Employers Provident Fund?
How much contribution is mandatory from an Employer towards Employees Provident Fund?
What is VPF? What is the maximum amount that an employee can contribute towards VPF?
What is HRA? How much tax is exempted on HRA?
What is Form 16?
What is the New Tax Regime FY 2023-24?
What is the New Tax Regime post budget FY 2024-25?
Which tax regime should be chosen?
Does CTC include PF?
What is the difference between Financial and Assessment Year?