IndiaÔÇÖs Income Tax Slabs for FY 2023-24, 2024-25, and 2025-26 ÔÇô New Tax Regime

An outline of the most recent income tax slabs for FY 2023ÔÇô2024; FY 2024ÔÇô2025; and FY 2025ÔÇô2026 under the new tax system is given in this blog. Taxpayers need to carefully consider their alternatives in light of the updated tax rates and higher exemption ceilings. Myitronline makes tax preparation easier while guaranteeing accuracy and the most possible savings.

India’s Income Tax Slabs for FY 2023-24, 2024-25, and 2025-26 – New Tax Regime

Comprehending the New Tax System

The purpose of the new tax regime was to provide taxpayers with a more straightforward tax structure. Taxpayers must forfeit a number of deductions, including 80C, 80D, and HRA benefits, despite the reduced tax rates. Let's examine the most recent tax slabs.

Income Tax Slabs (New Tax Regime)

FY 2023-24 (AY 2024-25)

Income Slab (in Ôé╣) Tax Rate
Up to 3,00,000 Nil
3,00,001 to 6,00,000 5%
6,00,001 to 9,00,000 10%
9,00,001 to 12,00,000 15%
12,00,001 to 15,00,000 20%
Above 15,00,000 30%

FY 2024-25 (AY 2025-26)

Income Slab (in Ôé╣) Tax Rate
Up to 3,00,000 Nil
3,00,001 to 6,00,000 5%
6,00,001 to 9,00,000 10%
9,00,001 to 12,00,000 15%
12,00,001 to 15,00,000 20%
Above 15,00,000 30%

FY 2025-26 (AY 2026-27)

Income Slab (in Ôé╣) Tax Rate
Up to 4,00,000 Nil
4,00,001 to 8,00,000 5%
8,00,001 to 12,00,000 10%
12,00,001 to 16,00,000 15%
16,00,001 to 20,00,000 20%
20,00,001 to 24,00,000 25%
Above 24,00,000 30%

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Notice: This blog's content is solely intended for general informative purposes and is based on current tax rules. Please seek individualized advice from a qualified tax expert.

Last updated: 1 year ago
Author

Krishna Gopal Varshney

Founder & CEO - Myitronline Global Services Pvt. Ltd.

Providing expert tax filing and business services across India with over 15 years of experience in financial consulting and compliance management.

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