akshaya tritiya 20261:42 PM IST
Revised New Tax Slabs: How much tax one needs to pay on salaries of Rs 13.75 lakh, Rs 16.50 lakh, Rs 19.25 lakh and Rs 26.75 lakh; see calculations
- Written by ZeeBiz WebTeam
Published: Zee Business| Updated: Zee Business
Revised New Tax Slabs: In her Budget 2025 speech, Finance Minister Nirmala Sitharaman announced revised tax slabs for the new tax regime, where she not only increased the tax-free income limit but also restructured slabs to a great extent. Some of the distinguishing features of Budget 2025 are the annual income up to Rs 12 lakh for non-salaried individuals and up to Rs 12.75 lakh for salaried individuals has been made tax-free. The other changes are- the 5 per cent tax slab now starts from Rs 4 lakh instead of Rs 3 lakh; 10 per cent slab starts from Rs 8 lakh instead of Rs 7 lakh; 15 per cent slab starts from Rs 12 lakh instead of Rs 10 lakh; 20 per cent slab starts from Rs 16 lakh instead of Rs 12 lakh; 25 per cent slab has been introduced; and the 30 per cent slab starts from Rs 24 lakh instead of Rs 15 lakh. This will help crores of taxpayers save a substantial amount every year. But what if their income crosses the tax-free income limit? What if annual incomes for salaried and non-salaried individuals are Rs 13.75 lakh, Rs 16.50 lakh, Rs 19.25 lakh, Rs 22 lakh, or Rs 26.75 lakh, respectively? How much income tax do they need to pay under the old tax regime, the existing new tax regime, and the proposed new tax regime? See calculations to know.
Photos: Unsplash/Pixabay/Pexels
(Disclaimer: Our calculations are projections. Actual calculations may vary.)
1/12
Existing new tax regime slabs
1/12
Tax Slab for FY 2024-25
Tax Rate
Up to Rs 3 lakh
NIL
Rs 3 lakh - Rs 7 lakh
5%
Rs 7 lakh - Rs 10 lakh
10%
Rs 10 lakh - Rs 12 lakh
15%
Rs 12 lakh - Rs 15 lakh
20%
Above Rs 15 lakh
30%
2/12
Proposed new tax regime slabs
2/12
Income Tax Slabs
Tax Rate
Upto Rs. 4,00,000
NIL
Rs. 4,00,001 - Rs. 8,00,000
5%
Rs. 8,00,001 - Rs. 12,00,000
10%
Rs. 12,00,001 - Rs. 16,00,000
15%
Rs. 16,00,001 - Rs. 20,00,000
20%
Rs. 20,00,001 - Rs. 24,00,000
25%
Above Rs. 24,00,000
30%
3/12
Income Tax on Rs 13.75 lakh (salaried class)
3/12Tax under existing new tax regime slabs- Rs 1,04,000 Tax under proposed new tax regime slabs- Rs 78,000 Tax under old tax regime- Rs 2,18,400
4/12
Income Tax on Rs 13.75 lakh (non-salaried class)
4/12Tax under existing new tax regime slabs- Rs 1,04,000 Tax under proposed new tax regime slabs- Rs 89,700 Tax under old tax regime- Rs 2,18,400
5/12
Income Tax on Rs 16.50 lakh (salaried class)
5/12Tax under existing new tax regime slabs- Rs 1,69,000 Tax under proposed new tax regime slabs- Rs 1,20,900 Tax under old tax regime- Rs 3,04,200
6/12
Income Tax on Rs 16.50 lakh (non-salaried class)
6/12Tax under existing new tax regime slabs- Rs 1,69,000 Tax under proposed new tax regime slabs- Rs 1,35,200 Tax under old tax regime- Rs 3,04,200
7/12
Income Tax on Rs 19.25 lakh (salaried class)
7/12Tax under existing new tax regime slabs- Rs 2,54,800 Tax under proposed new tax regime slabs- Rs 1,76,800.00 Tax under old tax regime- Rs 3,90,000
8/12
Income Tax on Rs 19.25 lakh (non-salaried class)
8/12Tax under existing new tax regime slabs- Rs 2,54,800 Tax under proposed new tax regime slabs- Rs 1,92,400 Tax under old tax regime- Rs 3,90,000
9/12
Income Tax on Rs 22 lakh (salaried class)
9/12Tax under existing new tax regime slabs- Rs 3,40,600 Tax under proposed new tax regime slabs- Rs 2,40,500.00 Tax under old tax regime- Rs 4,75,800
10/12
Income Tax on Rs 22 lakh (non-salaried class)
10/12Tax under existing new tax regime slabs- Rs 3,40,600 Tax under proposed new tax regime slabs- Rs 2,60,000 Tax under old tax regime- Rs 4,75,800
11/12
Income Tax on Rs 26.75 lakh (salaried class)
11/12Tax under existing new tax regime slabs- Rs 4,88,800 Tax under proposed new tax regime slabs- Rs 3,74,400.00 Tax under old tax regime- Rs 6,24,000
12/12
Income Tax on Rs 26.75 lakh (non-salaried class)
12/12Tax under existing new tax regime slabs- Rs 4,88,800 Tax under proposed new tax regime slabs- Tax under old tax regime- Rs 6,24,000
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