{"id":91,"date":"2025-02-10T13:05:07","date_gmt":"2025-02-10T07:35:07","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=91"},"modified":"2025-06-26T15:56:12","modified_gmt":"2025-06-26T10:26:12","slug":"income-tax-slab","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/","title":{"rendered":"Income Tax Slab For The FY 2024-25"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-Tax-Slab-1024x538.png\" alt=\"\" class=\"wp-image-1504\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-Tax-Slab-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-Tax-Slab-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-Tax-Slab-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-Tax-Slab.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Finance Minister Nirmala Sitharaman has revised the income tax slabs in the new tax regime as part of the Union Budget for 2025. These updated income tax slabs will be implemented starting April 1, 2025, for the financial year 2025-26. The new tax regime introduces a complete overhaul of the income tax slabs.<\/p>\n\n\n\n<p>The income tax brackets for the Financial Year (FY) 2024-25 in India depend on the tax regime selected by the taxpayer. There are two options: the Old Tax Regime and the New Tax Regime. Here are the income tax slabs for FY 2024-25 (Assessment Year 2025-26):<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Old_Tax_Regime_For_FY_2024-25\" >Old Tax Regime For FY 2024-25<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Standard_Deduction\" >Standard Deduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Rebate_Under_Section_87A\" >Rebate Under Section 87A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Surcharge\" >Surcharge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Health_and_Education_Cess\" >Health and Education Cess<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Example\" >Example<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#New_Tax_Regime_For_FY_2024-25\" >New Tax Regime For FY 2024-25<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Standard_Deduction-2\" >Standard Deduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Rebate_Under_Section_87A-2\" >Rebate Under Section 87A<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Surcharge-2\" >Surcharge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Health_and_Education_Cess-2\" >Health and Education Cess<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Example-2\" >Example<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Corporate_Tax_Rates_FY_2024-25\" >Corporate Tax Rates (FY 2024-25)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#For_Domestic_Companies\" >For Domestic Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#For_Foreign_Companies\" >For Foreign Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Minimum_Alternate_Tax_MAT\" >Minimum Alternate Tax (MAT)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Cooperative_Societies_FY_2024-25\" >Cooperative Societies (FY 2024-25)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#Income_Tax_Slabs_for_FY_2025-26_AY_2026-27\" >Income Tax Slabs for FY 2025-26 (AY 2026-27)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.caclubindia.com\/guide\/income-tax-slab\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Old_Tax_Regime_For_FY_2024-25\"><\/span>Old Tax Regime For FY 2024-25<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The old tax regime allows various deductions and exemptions but has higher tax rates.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-below-60-years-1024x538.png\" alt=\"\" class=\"wp-image-1512\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-below-60-years-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-below-60-years-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-below-60-years-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-below-60-years.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/above-60-years-to-80-years-1024x538.png\" alt=\"\" class=\"wp-image-1513\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/above-60-years-to-80-years-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/above-60-years-to-80-years-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/above-60-years-to-80-years-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/above-60-years-to-80-years.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-more-than-80-years-1024x538.png\" alt=\"\" class=\"wp-image-1514\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-more-than-80-years-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-more-than-80-years-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-more-than-80-years-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Individuals-aged-more-than-80-years.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Standard_Deduction\"><\/span>Standard Deduction<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Amount: <\/strong>\u20b950,000<\/li>\n\n\n\n<li><strong>Applicability: <\/strong>Available to salaried individuals and pensioners.<\/li>\n\n\n\n<li><strong>Purpose:<\/strong> Replaces the earlier transport allowance (\u20b919,200) and medical reimbursement (\u20b915,000).<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rebate_Under_Section_87A\"><\/span>Rebate Under Section 87A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Eligibility: <\/strong>Individuals with total taxable income up to \u20b95,00,000.<\/li>\n\n\n\n<li><strong>Rebate Amount: <\/strong>Up to \u20b912,500.<\/li>\n\n\n\n<li><strong>Effect: <\/strong>Reduces tax liability to zero if income is below \u20b95,00,000.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Surcharge\"><\/span>Surcharge<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A surcharge is an additional tax levied on high-income earners. The rates are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Income Range<\/strong><\/td><td><strong>Surcharge Rate<\/strong><\/td><\/tr><tr><td>\u20b950 lakh \u2013 \u20b91 crore<\/td><td>10%<\/td><\/tr><tr><td>\u20b91 crore \u2013 \u20b92 crore<\/td><td>15%<\/td><\/tr><tr><td>\u20b92 crore \u2013 \u20b95 crore<\/td><td>25%<\/td><\/tr><tr><td>Above \u20b95 crore<\/td><td>37%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Health_and_Education_Cess\"><\/span>Health and Education Cess<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rate: <\/strong>4% of the total tax (including surcharge, if applicable).<\/li>\n\n\n\n<li><strong>Purpose: <\/strong>Funds health and education initiatives.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Example\"><\/span>Example<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Let\u2019s assume a taxpayer has a taxable income of \u20b960,00,000 under the Old Tax Regime:<\/p>\n\n\n\n<p><strong>Tax Calculation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Up to \u20b92,50,000: 0%<\/li>\n\n\n\n<li>\u20b92,50,001 \u2013 \u20b95,00,000: 5% of \u20b92,50,000 = \u20b912,500<\/li>\n\n\n\n<li>\u20b95,00,001 \u2013 \u20b910,00,000: 20% of \u20b95,00,000 = \u20b91,00,000<\/li>\n\n\n\n<li>Above \u20b910,00,000: 30% of \u20b950,00,000 = \u20b915,00,000<\/li>\n\n\n\n<li>Total Tax: \u20b912,500 + \u20b91,00,000 + \u20b915,00,000 = \u20b916,12,500<\/li>\n<\/ul>\n\n\n\n<p><strong>Surcharge:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Income is \u20b960,00,000 (falls in \u20b950 lakh \u2013 \u20b91 crore slab).<\/li>\n\n\n\n<li>Surcharge = 10% of \u20b916,12,500 = \u20b91,61,250<\/li>\n<\/ul>\n\n\n\n<p><strong>Health and Education Cess:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cess = 4% of (\u20b916,12,500 + \u20b91,61,250) = \u20b970,950<\/li>\n<\/ul>\n\n\n\n<p><strong>Total Tax Liability:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u20b916,12,500 + \u20b91,61,250 + \u20b970,950 = \u20b918,44,700<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"New_Tax_Regime_For_FY_2024-25\"><\/span>New Tax Regime For FY 2024-25 <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The new tax system features reduced tax rates, but it does not permit the majority of deductions and exemptions <\/p>\n\n\n\n<p><strong>Default Regime From FY 2023-24<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/new-tax-regime-1024x538.png\" alt=\"\" class=\"wp-image-1509\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/new-tax-regime-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/new-tax-regime-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/new-tax-regime-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/new-tax-regime.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>For FY 2024-25<\/strong><\/p>\n\n\n\n<p>As per the provisions of sub-section (1A) of section 115BAC of the Act, an individual or Hindu undivided family or association of persons [other than a co-operative society], or body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2, has to pay tax in respect of the total income at following rates:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/New-Regime-1024x538.png\" alt=\"\" class=\"wp-image-1511\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/New-Regime-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/New-Regime-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/New-Regime-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/New-Regime.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Standard_Deduction-2\"><\/span>Standard Deduction<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Amount: <\/strong>\u20b950,000<\/li>\n\n\n\n<li><strong>Applicability: <\/strong>Available to salaried individuals and pensioners.<\/li>\n\n\n\n<li><strong>Purpose: <\/strong>Reduces taxable income by \u20b950,000.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rebate_Under_Section_87A-2\"><\/span>Rebate Under Section 87A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Eligibility:<\/strong> Individuals with total taxable income up to \u20b97,00,000.<\/li>\n\n\n\n<li><strong>Rebate Amount: <\/strong>Up to \u20b925,000.<\/li>\n\n\n\n<li><strong>Effect: <\/strong>Reduces tax liability to zero if income is below \u20b97,00,000.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Surcharge-2\"><\/span>Surcharge<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A surcharge is an additional tax levied on high-income earners. The rates are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Income Range<\/strong><\/td><td><strong>Surcharge Rate<\/strong><\/td><\/tr><tr><td>\u20b950 lakh \u2013 \u20b91 crore<\/td><td>10%<\/td><\/tr><tr><td>\u20b91 crore \u2013 \u20b92 crore<\/td><td>15%<\/td><\/tr><tr><td>\u20b92 crore \u2013 \u20b95 crore<\/td><td>25%<\/td><\/tr><tr><td>Above \u20b95 crore<\/td><td>37%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Health_and_Education_Cess-2\"><\/span>Health and Education Cess<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rate: <\/strong>4% of the total tax (including surcharge, if applicable).<\/li>\n\n\n\n<li><strong>Purpose:<\/strong> Funds health and education initiatives.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Example-2\"><\/span>Example<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Let\u2019s assume a taxpayer has a taxable income of \u20b960,00,000 under the New Tax Regime:<\/p>\n\n\n\n<p><strong>Tax Calculation:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Up to \u20b93,00,000= 0%<\/li>\n\n\n\n<li>\u20b93,00,001 \u2013 \u20b96,00,000: 5% of \u20b93,00,000 = \u20b915,000<\/li>\n\n\n\n<li>\u20b96,00,001 \u2013 \u20b99,00,000: 10% of \u20b93,00,000 = \u20b930,000<\/li>\n\n\n\n<li>\u20b99,00,001 \u2013 \u20b912,00,000: 15% of \u20b93,00,000 = \u20b945,000<\/li>\n\n\n\n<li>\u20b912,00,001 \u2013 \u20b915,00,000: 20% of \u20b93,00,000 = \u20b960,000<\/li>\n\n\n\n<li>Above \u20b915,00,000: 30% of \u20b945,00,000 = \u20b913,50,000<\/li>\n\n\n\n<li>Total Tax: \u20b915,000 + \u20b930,000 + \u20b945,000 + \u20b960,000 + \u20b913,50,000 = \u20b915,00,000<\/li>\n<\/ul>\n\n\n\n<p><strong>Surcharge:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Income is \u20b960,00,000 (falls in \u20b950 lakh \u2013 \u20b91 crore slab).<\/li>\n\n\n\n<li>Surcharge = 10% of \u20b915,00,000 = \u20b91,50,000<\/li>\n<\/ul>\n\n\n\n<p><strong>Health and Education Cess:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cess = 4% of (\u20b915,00,000 + \u20b91,50,000) = \u20b966,000<\/li>\n<\/ul>\n\n\n\n<p><strong>Total Tax Liability:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u20b915,00,000 + \u20b91,50,000 + \u20b966,000 = \u20b917,16,000<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Corporate_Tax_Rates_FY_2024-25\"><\/span>Corporate Tax Rates (FY 2024-25)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"For_Domestic_Companies\"><\/span>For Domestic Companies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Base Tax Rate:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>25% (if turnover or gross receipts in the previous year (FY 2022-23) do not exceed \u20b9400 crore)<\/li>\n\n\n\n<li>30% (for other domestic companies)<\/li>\n<\/ul>\n\n\n\n<p><strong>Reduced Tax Rate (Section 115BAA):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>22% (if the company opts for this concessional rate and forgoes certain deductions\/exemptions)<\/li>\n<\/ul>\n\n\n\n<p><strong>Surcharge:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>7% (if taxable income exceeds \u20b91 crore but is less than \u20b910 crore).<\/li>\n\n\n\n<li>12% (if taxable income exceeds \u20b910 crore)<\/li>\n<\/ul>\n\n\n\n<p><strong>Health and Education Cess:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>4% (on the total of income tax and surcharge)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"For_Foreign_Companies\"><\/span>For Foreign Companies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>Base Tax Rate:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>40% (on income earned in India)<\/li>\n<\/ul>\n\n\n\n<p><strong>Surcharge:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>2% (if taxable income exceeds \u20b91 crore but is less than \u20b910 crore).<\/li>\n\n\n\n<li>5% (if taxable income exceeds \u20b910 crore)<\/li>\n<\/ul>\n\n\n\n<p><strong>Health and Education Cess:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>4% (on the total of income tax and surcharge)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Minimum_Alternate_Tax_MAT\"><\/span>Minimum Alternate Tax (MAT)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>MAT is imposed at a rate of 15% (along with an additional surcharge and cess) on book profits for companies that take advantage of specific exemptions or deductions, leading to a reduced tax obligation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cooperative_Societies_FY_2024-25\"><\/span>Cooperative Societies (FY 2024-25)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The tax rates for cooperative societies are different from those for individuals and companies.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Income Slab<\/strong><\/td><td><strong>Tax Rate<\/strong><\/td><\/tr><tr><td>Up to \u20b910,000<\/td><td>10%<\/td><\/tr><tr><td>\u20b910,001 to \u20b920,000<\/td><td>20%<\/td><\/tr><tr><td>Above \u20b920,000<\/td><td>30%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Surcharge<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>7% of the tax amount if the total income exceeds \u20b91 crore but is less than \u20b910 crore.<\/li>\n\n\n\n<li>12% of the tax amount if the total income exceeds \u20b910 crore.<\/li>\n<\/ul>\n\n\n\n<p><strong>Health and Education Cess<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>4% of the total tax (including surcharge, if applicable)<\/li>\n<\/ul>\n\n\n\n<p><strong>Other Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cooperative societies are eligible for certain deductions under Section 80P of the Income Tax Act, which allows exemptions on income from specific activities like providing credit facilities, cottage industries, marketing of agricultural produce, etc.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cooperative societies must file their income tax returns using ITR-5.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Income_Tax_Slabs_for_FY_2025-26_AY_2026-27\"><\/span>Income Tax Slabs for FY 2025-26 (AY 2026-27)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The finance minister has announced important modifications to the <strong><a href=\"https:\/\/www.caclubindia.com\/guide\/new-income-tax-slab\/\">income tax slabs<\/a><\/strong> within the new tax regime in the Union Budget for 2025. These updated slabs will take effect from April 1, 2025. The modified slabs under the new tax regime are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-tax-slabs-for-FY-25-26-1024x538.png\" alt=\"\" class=\"wp-image-1510\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-tax-slabs-for-FY-25-26-1024x538.png 1024w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-tax-slabs-for-FY-25-26-300x158.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-tax-slabs-for-FY-25-26-768x403.png 768w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/05\/Income-tax-slabs-for-FY-25-26.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"schema-faq\"><div class=\"schema-faq-section\" id=\"faq-question-1717243671516\"><strong class=\"schema-faq-question\">Which is better, old or new tax regime?<\/strong> <p class=\"schema-faq-answer\">To choose between the old and new tax regimes it totally depends on individual circumstances. <br\/>The old regime offers more deductions and exemptions.<br\/>The new regime offers lower tax rates with fewer deductions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1717243692731\"><strong class=\"schema-faq-question\">Is there an 50,000 standard deduction in the new tax regime?<\/strong> <p class=\"schema-faq-answer\">Yes, a standard deduction of Rs. 50,000 under the new tax regime can be claim similar to the old regime.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1717243708229\"><strong class=\"schema-faq-question\">What is the disadvantage of new tax regime?<\/strong> <p class=\"schema-faq-answer\">The main disadvantage of the new tax regime is the absence of tax deductions, which can be negatively impact individuals for those who have investments in tax-saving instruments like ELSS funds or tax-saving insurance plans.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Nirmala Sitharaman has revised the income tax slabs in the new tax regime as part of the Union [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":1504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-91","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Income Tax Slab For The FY 2024-25<\/title>\r\n<meta name=\"description\" content=\"Income tax slab determine the rate at which an individual\/entity is taxed. 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