Tax slabs: For AY 2025-26*** The

Tax Slabs for AY 2025-26"" The Finance Act 2024 has amended the provisions of Section 115BAC w.e.f AY 2024-25 to make new tax regime the default tax regime for the assessee being an Individual, HUF, AOP (not being co-operative societies), BOI and or Artificial Juridical Person. However, the eligible taxpayers have the option to opt out of default tax regime and choose to be taxed under old tax regime. The old tax regime refers to the system of income tax calculation and slabs that existed ... Income Tax Slabs : Many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year 2025-26. Learn about the new income tax slabs , rebate, exemption limit, and deductions for the financial year 2025-26 in India. Compare the new and old tax regimes and find out the best option for your income and financial planning. Income Tax applies to individuals based on a slab system, where different tax rates are assigned to different income ranges. As the person’s income increases, the tax rates also increase. This type of taxation allows for a fair and progressive tax system in the country. The income tax slabs are revised periodically, typically during each budget.