New Tax Regime Latest Income Tax Slab FY 2024–25

New Tax Regime: Latest Income Tax Slab FY 2024–25

In Budget 2024, Nirmala Sitharaman announced the following tax slabs under the new tax regime:

Tax Slab
Rates
Up to Rs. 3,00,000
NIL
Rs. 300,001 to Rs. 7,00,000
5% (Tax Rebate u/s 87A)
Rs. 7,00,001 to Rs. 10,00,000
10% (Tax Rebate u/s 87A up to Rs 7 lakh)
Rs. 10,00,001 to Rs. 12,00,000
15%
Rs. 12,00,001 to Rs. 15,00,000
20%
Above Rs. 15,00,000
30%

The standard deduction limit has been raised to Rs. 75,000 in Budget 2024 for salaried employees, and for family pensioners, the limit has been hiked to 25,000. This announcement is expected to bring tax relief for four crore salaried employees and pensioners.

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