Whether you're filing a revised return, responding to an income tax notice for an older year, or simply comparing how much the new regime has improved, having all the slab rates in one place saves time. Here are the complete income tax slab rates from FY 2022-23 (AY 2023-24) through FY 2025-26 (AY 2026-27) — for both the old and new regimes.
FY 2022-23 (AY 2023-24) Income Tax Slabs
This is the assessment year currently most searched for revised returns and notice responses.
Old Regime — FY 2022-23
| Annual Income | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
- Section 87A rebate: Up to ₹5 lakh taxable income → net tax = ₹0
- Standard deduction: ₹50,000 (salaried and pensioners)
- Surcharge: 10% on income > ₹50L; 15% on > ₹1Cr; 25% on > ₹2Cr; 37% on > ₹5Cr
New Regime — FY 2022-23 (Pre-revision)
| Annual Income | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹7,50,000 | 10% |
| ₹7,50,001 – ₹10,00,000 | 15% |
| ₹10,00,001 – ₹12,50,000 | 20% |
| ₹12,50,001 – ₹15,00,000 | 25% |
| Above ₹15,00,000 | 30% |
- Section 87A rebate: Up to ₹5 lakh → net tax = ₹0
- Standard deduction: Not available under new regime for FY 2022-23
- Most deductions (80C, 80D, HRA, LTA): Not available
Note for AY 2023-24 filers: If you are filing a revised or belated return for FY 2022-23, the above slabs apply. The effective zero-tax limit under the old regime with standard deduction was ₹5.5 lakh (₹5L + ₹50k SD).
FY 2023-24 (AY 2024-25) Income Tax Slabs
Budget 2023 overhauled the new regime significantly, making it the default regime for the first time.
Old Regime — FY 2023-24
Unchanged from FY 2022-23:
| Annual Income | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
- 87A rebate limit: ₹5 lakh (old regime unchanged)
- Standard deduction: ₹50,000
New Regime — FY 2023-24 (Revised Under Section 115BAC)
| Annual 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 ₹15,00,000 | 30% |
- Section 87A rebate: Up to ₹7 lakh → net tax = ₹0
- Standard deduction introduced for new regime: ₹50,000 (from FY 2023-24 onwards)
- Effective zero-tax limit (salaried): ₹7.5 lakh (₹7L + ₹50k SD)
- Section 115BAC: This is the governing section for the new regime; choosing it means foregoing most deductions
FY 2024-25 (AY 2025-26) Income Tax Slabs
The slabs remained the same as FY 2023-24 for both regimes, but Budget 2024 increased the standard deduction under the new regime.
Old Regime — FY 2024-25
Same as before. Standard deduction remains ₹50,000.
New Regime — FY 2024-25
Same slab structure as FY 2023-24 (see above).
- Standard deduction: Increased to ₹75,000 (from ₹50,000)
- Section 87A rebate: Remains ₹7 lakh
- Effective zero-tax limit (salaried): ₹7.75 lakh (₹7L + ₹75k SD)
FY 2025-26 (AY 2026-27) Income Tax Slabs
Budget 2025 made the biggest overhaul to the new regime since its revision in 2023.
Old Regime — FY 2025-26
Unchanged from previous years.
| Annual Income | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
- 87A rebate limit: ₹5 lakh (old regime)
- Standard deduction: ₹75,000 (increased from ₹50,000 in Budget 2024)
New Regime — FY 2025-26 (Updated Section 115BAC)
| Annual Income | Tax Rate |
|---|---|
| Up to ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
- Section 87A rebate: Up to ₹12 lakh → net tax = ₹0
- Standard deduction: ₹75,000 (salaried and pensioners)
- Effective zero-tax limit (salaried): ₹12.75 lakh
- Surcharge on new regime capped at 25% (max effective rate ≈ 39%)
Side-by-Side: New Regime Evolution (FY 2022-23 to FY 2025-26)
| Feature | FY 2022-23 | FY 2023-24 | FY 2024-25 | FY 2025-26 |
|---|---|---|---|---|
| Nil slab limit | ₹2.5L | ₹3L | ₹3L | ₹4L |
| Standard deduction | ₹0 | ₹50,000 | ₹75,000 | ₹75,000 |
| 87A rebate limit | ₹5L | ₹7L | ₹7L | ₹12L |
| Effective zero-tax (salaried) | ₹5L | ₹7.5L | ₹7.75L | ₹12.75L |
| Surcharge cap | 37% | 25% | 25% | 25% |
The trend is clear: the new regime has been consistently sweetened every year since 2023, while the old regime remains unchanged. For most salaried employees without very large deductions, the new regime is now the default better choice.
Which Slab Year Applies to You?
| Assessment Year | Financial Year | Income Period | Standard Filing Deadline |
|---|---|---|---|
| AY 2023-24 | FY 2022-23 | Apr 2022 – Mar 2023 | Belated returns due Dec 31, 2023 |
| AY 2024-25 | FY 2023-24 | Apr 2023 – Mar 2024 | Belated returns due Dec 31, 2024 |
| AY 2025-26 | FY 2024-25 | Apr 2024 – Mar 2025 | Extended to Sep 15, 2025 |
| AY 2026-27 | FY 2025-26 | Apr 2025 – Mar 2026 | July 31, 2026 |
How to Download Income Tax Slab PDF
The official slab rates for each assessment year are published as part of the Finance Act and the Income Tax Department's circulars. Visit incometax.gov.in and search for the Finance Act for the relevant year. The slab rates for AY 2025-26 are governed by the Finance Act 2024, and for AY 2026-27 by the Finance Act 2025.
Knowing the right slab is only half the work — calculating the exact tax is where most people get tripped up. Use our free income tax calculator to instantly compare your tax under the old and new regime for FY 2024-25 and FY 2025-26, including STCG/LTCG, 80C, 80D, HRA, and NPS deductions.