| Income Range (₹) | Tax Rate |
|---|---|
| Up to 4,00,000 | Nil |
| 4,00,001 – 8,00,000 | 5% |
| 8,00,001 – 12,00,000 | 10% |
| 12,00,001 – 16,00,000 | 15% |
| 16,00,001 – 20,00,000 | 20% |
| 20,00,001 – 24,00,000 | 25% |
| Above 24,00,000 | 30% |
| Category | Income Range (₹) | Tax Rate |
|---|---|---|
| Individuals (<60 yrs) | 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 Citizens (60–79 yrs) | 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 (80+ yrs) | Up to 5,00,000 | Nil |
| 5,00,001 – 10,00,000 | 20% | |
| Above 10,00,000 | 30% |
| Regime | Standard Deduction (₹) | Details |
|---|---|---|
| New Tax Regime | 75,000 | Available to salaried individuals and pensioners. One of the few deductions permitted under Section 115BAC. Extends the effective tax-free threshold to Rs12.75 lakh when combined with the Section 87A rebate. |
| Old Tax Regime | 50,000 | Available to salaried individuals and pensioners. In addition, taxpayers can claim other deductions like 80C (PF, LIC, ELSS), 80D (medical insurance), HRA, LTA, etc. |