D R SASTRY & ASSOCIATES
Chartered Accountants
Chartered Accountants
| 1. For Resident Senior Citizens (Age 60 to 80 Years) | |||
|---|---|---|---|
| Old Tax Slab | Rate | New Tax Slab (Sec 115BAC) | Rate |
| Upto Rs 3,00,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 3,00,001 - Rs 5,00,000 | 5% | Rs 4,00,001 - Rs 8,00,000 | 5% |
| Rs 5,00,001 - Rs 10,00,000 | 20% | Rs 8,00,001 - Rs 12,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 12,00,001 - Rs 16,00,000 | 15% |
| Rs 16,00,001 - Rs 20,00,000 | 20% | ||
| Rs 20,00,001 - Rs 24,00,000 | 25% | ||
| Above Rs 24,00,000 | 30% | ||
| 2. For Resident Super Senior Citizens (Age above 80 Years) | |||
|---|---|---|---|
| Old Tax Slab | Rate | New Tax Slab (Sec 115BAC) | Rate |
| Upto Rs 5,00,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 5,00,001 - Rs 10,00,000 | 20% | Rs 4,00,001 - Rs 8,00,000 | 5% |
| Above Rs 10,00,000 | 30% | Rs 8,00,001 - Rs 12,00,000 | 10% |
| Rs 12,00,001 - Rs 16,00,000 | 15% | ||
| Rs 16,00,001 - Rs 20,00,000 | 20% | ||
| Rs 20,00,001 - Rs 24,00,000 | 25% | ||
| Above Rs 24,00,000 | 30% | ||
| 3. Individuals, HUF, AOP, BOI, AJP (Other than Senior Citizens) | |||
|---|---|---|---|
| Old Tax Slab | Rate | New Tax Slab (Sec 115BAC) | Rate |
| Upto Rs 2,50,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 2,50,001 - Rs 5,00,000 | 5% | Rs 4,00,001 - Rs 8,00,000 | 5% |
| Rs 5,00,001 - Rs 10,00,000 | 20% | Rs 8,00,001 - Rs 12,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 12,00,001 - Rs 16,00,000 | 15% |
| Rs 16,00,001 - Rs 20,00,000 | 20% | ||
| Rs 20,00,001 - Rs 24,00,000 | 25% | ||
| Above Rs 24,00,000 | 30% | ||
|
Important Notes: • New Tax Regime (Sec 115BAC) is the **default** regime. • Rebate u/s 87A: Up to Rs. 60,000 for resident individuals → **Effective tax-free income up to Rs. 12 lakh**. • Standard Deduction (Salaried / Pensioners): Rs. 75,000 in New Regime → Effective tax-free limit up to **Rs. 12.75 lakh**. • Surcharge: 10% (>50L to 1Cr), 15% (>1Cr to 2Cr), 25% (>2Cr to 5Cr), 37% (>5Cr) with marginal relief. • Health & Education Cess: 4% on (Tax + Surcharge). |