The Union Budget 2025-26 has kept the tax slab rates unchanged for salaried individuals below 60 years old. The existing tax slab rates are as follows: nil for individuals earning up to INR 2.5 ...

The New Tax Regime was first introduced by the government in the financial year 2020-21 (assessment year 2021-22). ... New Tax Regime Income Tax Slab Rates for FY 2024-25.

The new regime has five slab rates – 5%, 10%, 15%, 20% and 30%. While income between ₹ 3 lakh and ₹ 6 lakh is currently subject to a 5%, in the next assessment year, income between ₹ 3 ...

New Tax Regime Slab and Rates (FY 2025-26) The union budget 2025-26 has made several notable changes to the new income tax regime, ... Effective from the financial year 2020-21, ...

The Narendra Modi government introduced the new tax regime in the 2020-21 fiscal. Finance Minister Sitharaman had said the government planned to do away with all tax exemptions in the long run.

The introduction of the New tax regime in Budget 2020-21 aimed to simplify compliance with income tax regulations and provide tax relief to middle-class taxpayers. The new income tax regime became ...