For the financial year (FY) 2024-25 in India, the income tax slabs for individual taxpayers below 60 years of age, including those under the new tax regime, are as follows:
New Tax Regime:
- Income up to ₹3 lakh: No tax
- Income from ₹3 lakh to ₹6 lakh: 5%
- Income from ₹6 lakh to ₹9 lakh: 10%
- Income from ₹9 lakh to ₹12 lakh: 15%
- Income from ₹12 lakh to ₹15 lakh: 20%
- Income above ₹15 lakh: 30%
Old Tax Regime (with deductions and exemptions):
- Income up to ₹2.5 lakh: No tax
- Income from ₹2.5 lakh to ₹5 lakh: 5%
- Income from ₹5 lakh to ₹10 lakh: 10%
- Income from ₹10 lakh to ₹12.5 lakh: 15%
- Income from ₹12.5 lakh to ₹15 lakh: 20%
- Income from ₹15 lakh to ₹30 lakh: 25%
- Income above ₹30 lakh: 30%
For Senior Citizens (aged 60 years and above but below 80 years):
- Income up to ₹3 lakh: No tax
- Income from ₹3 lakh to ₹5 lakh: 5%
- Income from ₹5 lakh to ₹10 lakh: 10%
- Income from ₹10 lakh to ₹12.5 lakh: 15%
- Income from ₹12.5 lakh to ₹15 lakh: 20%
- Income from ₹15 lakh to ₹30 lakh: 25%
- Income above ₹30 lakh: 30%
For Super Senior Citizens (aged 80 years and above):
- Income up to ₹5 lakh: No tax
- Income from ₹5 lakh to ₹10 lakh: 5%
- Income from ₹10 lakh to ₹12.5 lakh: 10%
- Income from ₹12.5 lakh to ₹15 lakh: 15%
- Income from ₹15 lakh to ₹30 lakh: 20%
- Income above ₹30 lakh: 30%
These slabs are subject to the provisions and amendments announced in the Union Budget and may vary based on changes introduced by the government.
