M S M A R T

Income Tax Slabs for old Tax Regime FY 2023-24 :

Income Tax Slab

Income Tax Rate

Up to 2,50,000

Nil

2,50,001 - 5,00,000

5% above 2,50,000

5,00,001 - 10,00,000

12,500 + 20% above 5,00,000

Above 10,00,000

1,12,500 + 30% above 10,00,000

Income Tax Slabs for the New Tax Regime (default) FY 2023–24:

Income Tax Slab

Income Tax Rate

Up to 3,00,000

Nil

3,00,001 - 6,00,000

5%

6,00,001 - 9,00,000

10 %

9,00,001 - 12,00,000

15 %

12,00,001 - 15,00,000

20 %

Above Rs. 15,00,000

30 %

Income Tax Slabs for the New Tax Regime (default) FY 2024–25:

Income Tax Slab

Income Tax Rate

Up to 3,00,000

Nil

3,00,001 - 7,00,000

5%

7,00,001 - 10,00,000

10 %

10,00,001 - 12,00,000

15 %

12,00,001 - 15,00,000

20 %

Above Rs. 15,00,000

30 %

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