Income Tax Budget 2025 Live Updates: The new proposed tax regime, post FM Nirmala Sitharaman's budget announcement, looks like this:
Zero to Rs 4,00,000—No Tax
Rs 4,00,000 to Rs 8,00,000---5%
Rs 8,00,0001 to Rs 12,00,000---10%
Rs 12,00,001 to Rs 16 lakh---15%
Rs 16,00,001 to Rs 20 lakh---20%
Rs 20,00,001 to Rs 24 lakh - 25%
Above 24 lakh---30%
The old tax regime, where no changes have been announced, looks like this (for those aged under 60).
No income tax on annual incomes-Rs 2,50,000
Between Rs. 2,50,001 and Rs 5,00,000-5%
Between Rs 5,00,001 to Rs 10,00,000-20%
Over Rs 10,00,000- 30%