Income Tax Slabs FY 2024-25, Both Regimes

This is the year from April 2024 to March 2025, governed by the Income-tax Act, 1961. The Income Tax Department’s page lists only the current assessment year, so these slabs rest on coverage of the 2024 Budget, which is why the sources below say so. For the year running now, see the FY 2026-27 slabs.

The New Regime Slabs For FY 2024-25

Six slabs, from nil to 30%. The slabs were narrower than they are now, so the higher rates started sooner.

Each slab taxes only the income that falls inside it. The right-hand column shows what the bill would be if your income reached the top of that slab.

The Tax-Free Salary In FY 2024-25

Up to ₹7,75,000 of gross salary paid nothing, because the rebate was smaller and applied at a lower income.

Marginal relief held the tax to the income earned over the line, until a gross salary of about ₹7,97,300.

How FY 2025-26 Changed It

The next year widened the slabs and raised the rebate, so the same salary paid less.

• The new-regime slabs changed from FY 2024-25: nil tax now runs to ₹4,00,000, against ₹3,00,000, and the 30% rate now starts above ₹24,00,000, against ₹15,00,000.
• The rebate rose from ₹25,000 (taxable income up to ₹7,00,000) to ₹60,000 (up to ₹12,00,000), so a salary of up to ₹12,75,000 now pays no tax, against ₹7,75,000.
• The standard deduction in the new regime is the same, ₹75,000.
• The old-regime slabs are unchanged.

Old Regime Slabs For FY 2024-25

The old regime had the same slabs, standard deduction and deductions as in the years after it.

For someone under 60 the nil-tax limit was ₹2,50,000, the standard deduction was ₹50,000, and the rebate cancelled up to ₹12,500 of tax when taxable income was ₹5,00,000 or less.