What is Tax Slab for AY 2024-25?

Old Tax Regime (<60 Years)

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New Tax Regime (<60 Years)

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Income up to ₹3 lakh: Nil, ₹3-5 lakh: 5%, ₹5-10 lakh: 20%, Above ₹10 lakh: 30%

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Old Tax Regime (>80 Years)

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New Tax Regime (>80 Years)

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Individuals can choose the old regime for more deductions and exemptions

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Forms 10-IEA for switching regimes, Form 12BB for tax deduction claims

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What are the best books about investing, money, and the stock market?

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What is Tax Slab for AY 2024-25?

Old Tax Regime (<60 Years)

Income up to ₹2.5 lakh: Nil, ₹2.5-5 lakh: 5%, ₹5-10 lakh: 20%, Above ₹10 lakh: 30%

New Tax Regime (<60 Years)

Tax rate chart for the new regime for individuals under 60.

Income up to ₹3 lakh: Nil, ₹3-5 lakh: 5%, ₹5-10 lakh: 20%, Above ₹10 lakh: 30%

Old Tax Regime (60-80 Years)

Old Tax Regime (>80 Years)

Income up to ₹5 lakh: Nil, ₹5-10 lakh: 20%, Above ₹10 lakh: 30%

New Tax Regime (>80 Years)

Same as the new tax regime for individuals under 60 years

Individuals can choose the old regime for more deductions and exemptions

Opting Between Regimes

Forms 10-IEA for switching regimes, Form 12BB for tax deduction claims

Important Forms

What are the best books about investing, money, and the stock market?

Read More