Income Tax Plates Budget 2025 Live: No Income Tax Up To Rs 12 Lakh Income! 30% Tax plate now after Rs 24 Lakh – Large Income Tax Law for Mid -Class

Income Tax Plates Budget 2025: What are the latest tax plates in New & Old Tax Regime?

For assessment year 2025-26, the new income tax regime offers tax exemption for annual income up to Rs 3.00,000. A 5% tax rate applies to earnings between RS 3.00,001 and RS 7.00,000. Income from Rs 7,00,001 to Rs 10,00,000 Faces 10% Tax. For earnings between RS 10,00,001 and RS 12,00,000, the rate is 15%. A tax of 20% applies to income from RS 12,00,001 to Rs 15,00,000. Earnings over RS ​​15.00,000 are taxed at 30%.

The old tax regime sets zero tax for annual earnings up to Rs 2.50,000. Earnings between RS 2.50,001 and RS 5.00,000 attract 5% tax. A tax of 20% applies to income from Rs 5,00,001 to Rs 10.00,000. For earnings exceeding RS 10.00,000, the current rate is 30%.