| Taxable Income | Income Tax Rate |
|---|---|
| Up to INR 2,50,000 | Nil |
| INR 2,50,000 – INR5,00,000 | 5% |
| INR 5,00,000 – INR 10,00,000 | 20% |
| Above INR 10,00,000 | 30% |
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Income tax return filing for an individual with salary income of less than Rs.5 lakhs.
Income tax return filing for an individual with salary income of less than Rs.10 lakhs.
For individuals up to the age of 60 years
For individuals aged between 60-80 years (Senior Citizen)
| Taxable Income | Income Tax Rate |
|---|---|
| Up to INR 3,00,000 | Nil |
| INR 3,00,000 – INR5,00,000 | 5% |
| INR 5,00,000 – INR 10,00,000 | 20% |
| Above INR 10,00,000 | 30% |
For individuals above the age of 80 years ( Super senior citizens)
| Taxable Income | Income Tax Rate |
|---|---|
| Up to INR 5,00,000 | Nil |
| INR 5,00,000 – INR 10,00,000 | 20% |
| Above INR 10,00,000 | 30% |
The income tax rates under the new tax regimes that is applicable for individuals and the HUFs is as follows:
| Income Slab | New regime tax slab rate(Applicable for all individuals and HUF) |
|---|---|
| Up to INR 2,50,000 | NIL |
| INR 2,50,000 – 3,00,000 | 5% (Tax rebate u/s 87 a is available) |
| INR 3,00,000 – 5,00,000 | 5% (Tax rebate u/s 87 a is available) |
| INR 5,00,000 – 7,50,000 | 10% |
| INR 7,50,000 – 10,00,000 | 15% |
| INR 10,00,000 – 12,50,000 | 20% |
| INR 12,50,000 – 15,00,000 | 25% |
| More than INR 15,00,000 | 30% |