Latest Income Tax Slabs for FY 2024-25
Here are the updated income tax slabs under the New Tax Regime for Individual taxpayers (below 60 years of age):
🧾 New Tax Regime Slabs:
| Income Range | Tax Rate |
|---|---|
| Up to ₹3,00,000 | Nil |
| ₹3,00,001 – ₹6,00,000 | 5% |
| ₹6,00,001 – ₹9,00,000 | 10% |
| ₹9,00,001 – ₹12,00,000 | 15% |
| ₹12,00,001 – ₹15,00,000 | 20% |
| Above ₹15,00,000 | 30% |
👉 Rebate u/s 87A is available for income up to ₹7 lakh – effectively, no tax for such income under the New Regime.
Old vs New Tax Regime – Which is Better?
- Old Regime allows deductions (80C, 80D, HRA, etc.)
- New Regime offers lower tax rates but fewer deductions
Choose based on your income structure and deductions.