Tax rates for Individual (resident or non-resident) less than 60 years of age anytime during the previous year are as under: 
				
				
				
				
| 
 Old Tax Regime 
 | 
 New Tax Regime u/s 115BAC 
 | 
| 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
| 
 Up to ₹ 2,50,000     
 | 
 Nil 
 | 
 Up to ₹ 3,00,000 
 | 
 Nil 
 | 
| 
 ₹ 2,50,001 - ₹ 5,00,000     
 | 
 5% above ₹ 2,50,000 
 | 
 ₹ 3,00,001 - ₹ 6,00,000 
 | 
 5% above ₹ 3,00,000 
 | 
| 
 ₹ 5,00,001 - ₹ 10,00,000 
 | 
 ₹ 12,500 + 20% above ₹ 5,00,000 
 | 
 ₹ 6,00,001 - ₹ 9,00,000 
 | 
 ₹ 15,000 + 10% above ₹ 6,00,000 
 | 
| 
 Above ₹ 10,00,000  
 | 
 ₹ 1,12,500 + 30% above ₹ 10,00,000 
 | 
 ₹ 9,00,001 - ₹ 12,00,000 
 | 
 ₹ 45,000 + 15% above ₹ 9,00,000 
 | 
| 
   
 | 
   
 | 
 ₹ 12,00,001 - ₹ 15,00,000 
 | 
 ₹ 90,000 + 20% above ₹ 12,00,000 
 | 
| 
   
 | 
   
 | 
 Above ₹ 15,00,000 
 | 
 ₹ 1,50,000 + 30% above ₹ 15,00,000 
 | 
Tax rates for Individual (resident or non-resident), 60 years or more but less than 80 years of age anytime during the previous year are as under:
 
		
| 
 Old Tax Regime 
 | 
 New Tax Regime u/s 115BAC 
 | 
| 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
| 
 Up to ₹ 3,00,000 
 | 
 Nil 
 | 
 Up to ₹ 3,00,000 
 | 
 Nil 
 | 
| 
 ₹ 3,00,001 - ₹ 5,00,000 
 | 
 5% above ₹ 3,00,000 
 | 
 ₹ 3,00,001 - ₹ 6,00,000 
 | 
 5% above ₹ 3,00,000 
 | 
| 
 ₹ 5,00,001 - ₹ 10,00,000 
 | 
 ₹ 10,000 + 20% above ₹ 5,00,000 
 | 
 ₹ 6,00,001 - ₹ 9,00,000 
 | 
 ₹ 15,000 + 10% above ₹ 6,00,000 
 | 
| 
 Above ₹ 10,00,000 
 | 
 ₹ 1,10,000 + 30% above ₹ 10,00,000 
 | 
 ₹ 9,00,001 - ₹ 12,00,000 
 | 
 ₹ 45,000 + 15% above ₹ 9,00,000 
 | 
| 
   
 | 
   
 | 
 ₹ 12,00,001 - ₹ 15,00,000 
 | 
 ₹ 90,000 + 20% above ₹ 12,00,000 
 | 
		
				
	
Tax rates for Individual (resident or non-resident) 80 years of age or more anytime during the previous year are as under:
 
	
| 
 Old Tax Regime 
 | 
 New Tax Regime u/s 115BAC 
 | 
| 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
 Income Tax Slab 
 | 
 Income Tax Rate 
 | 
| 
 Up to ₹ 5,00,000   
 | 
 Nil 
 | 
 Up to ₹ 3,00,000 
 | 
 Nil 
 | 
| 
 ₹ 5,00,001 - ₹ 10,00,000 
 | 
 20% above ₹ 5,00,000 
 | 
 ₹ 3,00,001 - ₹ 6,00,000 
 | 
 5% above ₹ 3,00,000 
 | 
| 
 Above ₹ 10,00,000  
 | 
 ₹ 1,00,000 + 30% above ₹ 10,00,000 
 | 
 ₹ 6,00,001 - ₹ 9,00,000 
 | 
 ₹ 15,000 + 10% above ₹ 6,00,000 
 | 
| 
   
 | 
   
 | 
 ₹ 9,00,001 - ₹ 12,00,000 
 | 
 ₹ 45,000 + 15% above ₹ 9,00,000 
 | 
| 
   
 | 
   
 | 
 ₹ 12,00,001 - ₹ 15,00,000 
 | 
 ₹ 90,000 + 20% above ₹ 12,00,000 
 | 
| 
   
 | 
   
 | 
 Above ₹ 15,00,000 
 | 
 ₹ 1,50,000 + 30% above ₹ 15,00,000 
 | 
				
		
  
		  
		  
		  
		  
		  
		  
		  
		   
				Tax Slabs for Individuals below 60 years for AY 24-25 / FY 23-24
				
                 
                    
                       | Existing Tax Regime  | 
                       New Tax Regime u/s 115BAC  | 
                    
                    
                       | Income Tax Slab  | 
                       Income Tax Rate  | 
                       Income Tax Slab  | 
                       Income Tax Rate  | 
                    
                    
                       | Up to ₹2,50,000 | 
                       Nil | 
                       ₹0 - ₹3,00,000 | 
                       Nil | 
                    
                    
                       | ₹2,50,001 - ₹5,00,000 | 
                       5% above ₹2,50,000 | 
                       ₹3,00,001 - ₹6,00,000 | 
                       5% | 
                    
                    
                       | ₹5,00,001 - ₹10,00,000 | 
                       ₹12,500 + 20% above ₹5,00,000 | 
                       ₹6,00,001 - ₹9,00,000 | 
                       ₹15,000 + 10% of total income exceeding ₹6,00,000 | 
                    
                    
                       | Above ₹10,00,000 | 
                       ₹1,12,500 + 30% above ₹10,00,000 | 
                       ₹9,00,001 - ₹12,00,000 | 
                       ₹45,000 + 15% of total income exceeding ₹9,00,000 | 
                    
                    
                       |   | 
                         | 
                       ₹12,00,001 - ₹15,00,000 | 
                       ₹90,000 + 20% of total income exceeding ₹10,00,000 | 
                    
                    
                       |   | 
                         | 
                       Above ₹15,00,000 | 
                       ₹150,000 + 30% of total income exceeding ₹15,00,000 | 
                    
                 
              
				
				
Tax Slabs for Senior Citizens (60 to 80 Years) for AY 24-25/ FY 23-24
				
                 
                    
                       | Old Tax Regime | 
                       New Tax Regime u/s 115BAC | 
                    
                    
                       | Income Tax Slab | 
                       Income Tax Rate | 
                       Income Tax Slab | 
                       Income Tax Rate | 
                    
                    
                       | Up to ₹3,00,000 | 
                       Nil | 
                       ₹0 - ₹3,00,000 | 
                       Nil | 
                    
                    
                       | ₹3,00,001 - ₹5,00,000 | 
                       5% above ₹3,00,000 | 
                       ₹3,00,001 - ₹6,00,000 | 
                       5% | 
                    
                    
                       | ₹5,00,001 - ₹10,00,000 | 
                       ₹10,000 + 20% above ₹5,00,000 | 
                       ₹6,00,001 - ₹9,00,000 | 
                       ₹15,000 + 10% of total income exceeding ₹6,00,000 | 
                    
                    
                       | Above ₹10,00,000 | 
                       ₹1,10,000 + 30% above ₹10,00,000 | 
                       ₹9,00,001 - ₹12,00,000 | 
                       ₹45,000 + 15% of total income exceeding ₹9,00,000 | 
                    
                    
                       |   | 
                         | 
                       ₹12,00,001 - ₹15,00,000 | 
                       ₹90,000 + 20% of total income exceeding ₹10,00,000 | 
                    
                    
                       |   | 
                         | 
                       Above ₹15,00,000 | 
                       ₹150,000 + 30% of total income exceeding ₹15,00,000 | 
                    
                 
              
			
 
  
		    
		  
		  
		  
		  
		  
		  
		  
		  
				Income Tax Slabs 2021 - 2022 for Individuals & HUF below 60 Years of Age
				
			
| 
 Taxable income 
 | 
 Tax Rate (Existing Scheme) 
 | 
 Tax Rate (New Scheme) 
 | 
| 
 Up to Rs. 2,50,000 
 | 
 Nil 
 | 
 Nil 
 | 
| 
 Rs. 2,50,001 to Rs. 5,00,000 
 | 
 5% 
 | 
 5% 
 | 
| 
 Rs. 5,00,001 to Rs. 7,50,000 
 | 
 20% 
 | 
 10% 
 | 
| 
 Rs. 7,50,001 to Rs. 10,00,000 
 | 
 20% 
 | 
 15% 
 | 
| 
 Rs. 10,00,001 to Rs. 12,50,000 
 | 
 30% 
 | 
 20% 
 | 
| 
 Rs. 12,50,001 to Rs. 15,00,000 
 | 
 30% 
 | 
 25% 
 | 
| 
 Above Rs. 15,00,000 
 | 
 30% 
 | 
 30% 
 | 
	
				
				
				
				
				
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income Tax Slabs 2021 – 2022 for Senior Citizens (Aged 60 Years but Less than 80 Years)
				
| 
 Taxable income 
 | 
 Tax Rate (Existing Scheme) 
 | 
 Tax Rate (New Scheme) 
 | 
| 
 Up to Rs. 2,50,000 
 | 
 Nil 
 | 
 Nil 
 | 
| 
 Rs. 2,50,001 to Rs. 3,00,000 
 | 
 Nil 
 | 
 5% 
 | 
| 
 Rs. 3,00,001 to Rs. 5,00,000 
 | 
 5% 
 | 
 5% 
 | 
| 
 Rs. 5,00,001 to Rs. 7,50,000 
 | 
 20% 
 | 
 10% 
 | 
| 
 Rs. 7,50,001 to Rs. 10,00,000 
 | 
 20% 
 | 
 15% 
 | 
| 
 Rs. 10,00,001 to Rs. 12,50,000 
 | 
 30% 
 | 
 20% 
 | 
| 
 Rs. 12,50,001 to Rs. 15,00,000 
 | 
 30% 
 | 
 25% 
 | 
| 
 Above Rs. 15,00,000 
 | 
 30% 
 | 
 30% 
 | 
				
				
*Rebate of Rs 12,500 will be available for taxpayers with taxable income up to Rs 5 lakh available under Section 87A
Income Tax Slabs 2021 – 2022 for Super Senior Citizens (Above 80 Years)
				
| 
 Taxable income 
 | 
 Tax Rate (Existing Scheme) 
 | 
 Tax Rate (New Scheme) 
 | 
| 
 Up to Rs. 2,50,000 
 | 
 Nil 
 | 
 Nil 
 | 
| 
 Rs. 2,50,001 to Rs. 5,00,000 
 | 
 Nil 
 | 
 5% 
 | 
| 
 Rs. 5,00,001 to Rs. 7,50,000 
 | 
 20% 
 | 
 10% 
 | 
| 
 Rs. 7,50,001 to Rs. 10,00,000 
 | 
 20% 
 | 
 15% 
 | 
| 
 Rs. 10,00,001 to Rs. 12,50,000 
 | 
 30% 
 | 
 20% 
 | 
| 
 Rs. 12,50,001 to Rs. 15,00,000 
 | 
 30% 
 | 
 25% 
 | 
| 
 Above Rs. 15,00,000 
 | 
 30% 
 | 
 30% 
 | 
				
				
*Surcharge to be levied for F.Y. 2021 - 22
				
				
	
| 
 Taxable Income 
 | 
 Surcharge (%) 
 | 
| 
 Total income above Rs.50 Lakh but below Rs. 1 Crore 
 | 
 10% 
 | 
| 
 Total income above Rs.1 Crore but below : 
Rs. 2 Crore 
 | 
 15% 
 | 
| 
 Total income above Rs.2 Crore but below 5 Crore 
 | 
 25% 
 | 
| 
 Total income above Rs.5 Crore 
 | 
 37% 
 | 
			
For Non-Resident Individuals (NRI), the basic exemption limit is of Rs. 2.5 lakh in a financial year irrespective of their age. 
Note: Surcharge and cess shall be continued to be levied at the existing rates.