Budget 2025: New Tax Slabs vs Old Tax Slabs
By: EjazUlHaqBhat
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In a big relief for middle class, Finance Minister Nirmala Sitharaman 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)
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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
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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Under the old income tax slab, announced last year, there is no tax on income up to Rs 3 lakh
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Between Rs 3 and Rs 7 lakh it is 5 per cent. Between Rs 7 and 10 lakh it is 10 per cent
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For income between Rs 10 and 12 lakh it is 15 per cent. Between Rs 12 and Rs 15 lakh it is 20 per cent, and above Rs 15 lakh it is 30 per cent
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