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INCOME TAX EXCEL PROGRAMME FY 2024-25

From FY 2023-24 on words those who opted Old Regime after due date [ 31st July ] automatically converted into New Regime.
Those who opted New Regime after due date late fee of Rs.5,000, which shall be reduced to Rs.1,000 if your total income is below Rs.5 lakh.

IT Slabs FY 2025-26

Income Tax Slabs FY 2025-26 (AY 2026-27) for Individuals Below 60 Years

Net Taxable Income Old Tax Regime Slabs FY 2025-26 Net Taxable Income New Tax Regime Slabs FY 2025-26
Up to Rs 2.5 lakhs - Up to Rs 4 lakhs -
Rs 2,50,001 to Rs 5 lakhs 5% Rs 4,00,001 to Rs 8 lakhs 5%
Rs 5,00,001 to Rs 10 lakhs 20% Rs 8,00,001 to Rs 12 lakhs 10%
Rs 12,00,001 to Rs 16 lakhs 15%
Above Rs. 10 lakhs 30% Rs 16,00,001 to Rs 20 lakhs 20%
Rs 20,00,001 to Rs 24 lakhs 25%
Above Rs 24 lakhs 30%

Income Tax Slabs FY 2025-26 (AY 2026-27) for Senior Citizen

[Between 60 to 80 age]

Net Taxable Income Old Tax Regime Slabs FY 2025-26 Net Taxable Income New Tax Regime Slabs FY 2025-26
Up to Rs 3 lakhs - Up to Rs 4 lakhs -
Rs 3,00,001 to Rs 5 lakhs 5% Rs 4,00,001 to Rs 8 lakhs 5%
Rs 5,00,001 to Rs 10 lakhs 20% Rs 8,00,001 to Rs 12 lakhs 10%
Rs 12,00,001 to Rs 16 lakhs 15%
Above Rs. 10 lakhs 30% Rs 16,00,001 to Rs 20 lakhs 20%
Rs 20,00,001 to Rs 24 lakhs 25%
Above Rs 24 lakhs 30%

Income Tax Slabs FY 2025-26 (AY 2026-27) for Super Senior Citizen

[Above 80 age]

Net Taxable Income Old Tax Regime Slabs FY 2025-26 Net Taxable Income New Tax Regime Slabs FY 2025-26
Up to Rs 5 lakhs - Up to Rs 4 lakhs -
Rs 4,00,001 to Rs 8 lakhs 5%
Rs 5,00,001 to Rs 10 lakhs 20% Rs 8,00,001 to Rs 12 lakhs 10%
Rs 12,00,001 to Rs 16 lakhs 15%
Above Rs. 10 lakhs 30% Rs 16,00,001 to Rs 20 lakhs 20%
Rs 20,00,001 to Rs 24 lakhs 25%
Above Rs 24 lakhs 30%

Health & Education cess @ 4% shall also be paid on the amount of income tax.

Rebate u/s 87-A Individual whose Total Income is not more than Rs. 5,00,000 in Old Regime.

Rebate u/s 87-A Individual whose Total Income is not more than Rs. 12,00,000 in New Regime.

U/s 16(ia) there is a standard deduction of Rs. 75000 in NEW Regime and Rs. 50000 in OLD Regime has been provided for FY 2025-26.

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