New Slab Rate FY 2024-25 | AY 2025-26:

New Slab Rate FY 2024-25 | AY 2025-26 The Union Budget 2024 was presented in the parliament today by the Hon'ble Finance Minister Nirmala Sitharaman. In this article you can check out the latest slab rates for FY 2024-25 | AY 2025-26 as per New and Old Tax Regimes for individuals &  Hindu Undivided Family (HUF). Slab Rate FY 2024-25 | AY 2025-26 New Slabs New Tax Regime 0-3L Nil 3-7L 5% 7-10L 10% 10-12L 15% 12-15L 20% Above 15L 30% No Change in slabs of Old Tax Regime Standard Deduction to Salaried employees has also been increased to 75000 from 50000. Slab Rate FY 2023-24 | AY 2024-25 Old Tax Regime

Net income range	Resident Super Senior Citizen	Resident Senior Citizen	Any other Individual
Up to Rs. 2,50,000	Nil	Nil	Nil
Rs. 2,50,001- Rs. 3,00,000	Nil	Nil	5%
Rs. 3,00,001- Rs. 5,00,000	Nil	5%	5%
Rs. 5,00,001- Rs. 10,00,000	20%	20%	20%
Above Rs. 10,00,000	30%	30%	30%

Alternative Tax Regime under section 115BAC (New tax regime)

Net Income Range	Tax rate
Upto Rs. 3,00,000	Nil
From Rs. 3,00,001 to Rs. 6,00,000	5%
From Rs. 6,00,001 to Rs.9,00,000	10%
From Rs. 9,00,001 to Rs. 12,00,000	15%
From Rs. 12,00,001 to Rs. 15,00,000	20%
Above Rs. 15,00,000	30%

Surcharge on income-tax:

10 percent of income tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or

15 percent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or

25 percent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or

37 percent of income tax if taxable income exceeds Rs. 5 crore. (25 percent in New Tax Regime.)

However, The maximum rate of surcharge on tax payable on dividend income or capital gain referred to in Section 111A, Section 112, or Section 112A shall be 15%.

Health and education cess: 4% of income-tax and surcharge.

Slab Rate FY 2022-23 | AY 2023-24 Old Tax Regime

Net income range	Resident Super Senior Citizen	Resident Senior Citizen	Any other Individual
Up to Rs. 2,50,000	Nil	Nil	Nil
Rs. 2,50,001- Rs. 3,00,000	Nil	Nil	5%
Rs. 3,00,001- Rs. 5,00,000	Nil	5%	5%
Rs. 5,00,001- Rs. 10,00,000	20%	20%	20%
Above Rs. 10,00,000	30%	30%	30%

Alternative Tax Regime under section 115BAC (New tax regime)

Total Income (Rs)	Rate
Upto 2,50,000	Nil
From 2,50,001 to 5,00,000	5%
From 5,00,001 to 7,50,000	10%
From 7,50,001 to 10,00,000	15%
From 10,00,001 to 12,50,000	20%
From 12,50,001 to 15,00,000	25%
Above 15,00,000	30%

Surcharge on income-tax:

10 percent of income tax if taxable income exceeds Rs. 50 lakh but does not exceed Rs. 1 crore or

15 percent of income-tax if taxable income exceeds Rs. 1 crore but does not exceed Rs. 2 crore or

25 percent of income-tax if taxable income exceeds Rs. 2 crore but does not exceed Rs. 5 crore or

37 percent of income-tax if taxable income exceeds Rs. 5 crore.

However, The maximum rate of surcharge on tax payable on dividend income or capital gain referred to in Section 111A, Section 112, or Section 112A shall be 15%.

Health and education cess: 4% of income-tax and surcharge.