Current Tax Slabs
Income Tax Slabs in India
Complete guide to income tax slabs under old and new regimes. Understand how progressive taxation works and calculate your tax liability.
New Tax Regime Slabs
Default regime from FY 2023-24. Lower rates but fewer deductions.
New Regime Tax Slabs
| Income Slab | Tax Rate | Cumulative Tax |
|---|---|---|
| Up to ₹4,00,000 | Nil | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹60,000 |
| ₹12,00,001 - ₹16,00,000 | 15% | ₹1,20,000 |
| ₹16,00,001 - ₹20,00,000 | 20% | ₹2,00,000 |
| ₹20,00,001 - ₹24,00,000 | 25% | ₹3,00,000 |
| Above ₹24,00,000 | 30% | Beyond ₹3,00,000 |
Rebate 87A up to ₹12LStandard Deduction: ₹75,000Cess: 4%
Old Tax Regime Slabs
Traditional slabs with all deductions and exemptions available.
Old Regime Tax Slabs (Below 60 Years)
| Income Slab | Tax Rate | Cumulative Tax |
|---|---|---|
| Up to ₹2,50,000 | Nil | ₹0 |
| ₹2,50,001 - ₹5,00,000 | 5% | ₹12,500 |
| ₹5,00,001 - ₹10,00,000 | 20% | ₹1,00,000 |
| Above ₹10,00,000 | 30% | Beyond ₹1,12,500 |
Rebate 87A up to ₹5LAll deductions availableCess: 4%
Surcharge Rates (High Income)
| Income Range | Surcharge Rate | Cap on Capital Gains |
|---|---|---|
| ₹50L - ₹1Cr | 10% | Not applicable |
| ₹1Cr - ₹2Cr | 15% | Not applicable |
| ₹2Cr - ₹5Cr | 25% | 15% on LTCG/STT |
| Above ₹5Cr | 37% | 15% on LTCG/STT |
Frequently Asked Questions
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Calculate Your Tax Liability
Use our income tax calculator to see exactly how much tax you need to pay under both regimes.