All About New Income Tax Slabs
By: EjazUlHaqBhat
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Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025-26, announced that there will be no income tax payable up to Rs 12 lakh
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She also announced revisions to the tax slabs (applicable to the new regime only). Here are the details of new tax regime
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For those having an income of up to Rs 4 Lakh, there will be no tax payable. Tax on income between Rs 4 and Rs 8 lakh will be 5 per cent
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Under the revised slab, tax on income between Rs 8 and Rs 12 lakh will be 10 per cent
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Between Rs 12 lakh and Rs 16 lakh it will be 15 per cent. Between Rs 16 lakh and Rs 20 lakh it will be 20 per cent
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Between Rs 20 lakh and Rs 24 lakh it will be 25 per cent. Above Rs 25 lakh and Rs 22 lakh it will be 30 per cent
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Those earning up to Rs 12 lakh annually won't have to pay any income tax under the new regime
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Add to it the standard deduction of Rs 75,000 and taxpayers with up to Rs 12.75 lakh annual income will have to pay zero tax
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