The Union Budget 2025-26 revised the income tax slabs to simplify the tax structure and lower tax rates for middle-income earners.
Tax slabs for FY 2025-26
- Income up to ₹12 lakh is tax-free
- (If income more than 12 lacs than taxed as per below rate)
- Income between ₹4 lakh and ₹8 lakh is taxed at 5%
- Income between ₹8 lakh and ₹12 lakh is taxed at 10%
- Income between ₹12 lakh and ₹16 lakh is taxed at 15%
- Income between ₹16 lakh and ₹20 lakh is taxed at 20%
- Income between ₹20 lakh and ₹24 lakh is taxed at 25%
- Income above ₹24 lakh is taxed at 30%
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