New income tax slabs in Budget 2025
New income tax slabs have been announced by Finance Minister Nirmala Sitharaman in the Union Budget 2025. The new income tax slabs under new tax regime are as follows:
| Income tax slabs (In Rs) | Income tax rate (%) |
| up to 400000 | 0 |
| 400001 – 800000 | 5% |
| 800001 – 1200000 | 10% |
| 1200001 – 1600000 | 15% |
| 1600001 – 2000000 | 20% |
| 2000001 – 2400000 | 24% |
| Above 2400001 | 30% |
0 tax income up to 400000, 5% tax income up to 800000, 10% tax on income up to 12lac, 15% tax on income up to 16lac and 20% tax on income up to 20lac.
30% tax now starts at Rs 24 lakh, 25%and New tax rate introduced for incomes between Rs 20-Rs 24 lakh 24%
A tax payer in the new regime with an income of Rs 12 lakh will get a benefit of Rs 80,000 in tax (which is 100% of tax payable as per existing rates).
A person having income of Rs 18 lakh will get a benefit of Rs 70,000 in tax (30% of tax payable as per existing rates).
A person with an income of Rs 25 lakh gets a benefit of Rs 1,10,000 (25% of his tax payable as per existing rates).
