Tax slabs for FY 2025-26 (AY 2026-27) - Check tax slabs under new and old regimes, tax savings due to relaxed slab rates, and tax saving options available under both the regimes. Learn about the new income tax slabs, rebate, exemption limit, and deductions for the financial year 2025-26. Compare the new and old tax regimes and find out the default option and the calculation method. New tax regime under section 115BAC of the Income Tax Act was introduced in the 2020 budget by Finance Minister Nirmala Sitharaman with an aim to offer a simplified tax structure with lower tax rates but fewer deductions and exemptions compared to the old regime. For FY 2025-26, the new tax regime effectively allows up to Rs 12 lakh tax free income , due to increase of rebate up to Rs 60,000. The income tax
