FY 2024-2025 Salary u/s 192/ Pension u/s 194P (Old Tax Regime)
| In case of an Individual (Men & Women) A. Tax Rates For Individuals (Other than senior citizen and super senior citizen) | |
|---|---|
| Net Income Range(Rs.) | Rate of Income-tax |
| Upto Rs. 2,50,000* | Nil |
| 2,50,001 to 5,00,000 | 5 |
| 5,00,001 to 10,00,000 | 20 |
| Above Rs. 10,00,000 | 30 |
| B. Tax Rates For Senior Citizens (who is 60 years or more at any time during the previous year) | |
|---|---|
| Net Income Range (Rs.) | Rate of Income-tax |
| Upto Rs. 3,00,000* | Nil |
| 3,00,001 to 5,00,000 | 5 |
| 5,00,001 to 10,00,000 | 20 |
| Above Rs 10,00,000 | 30 |
| C. Tax Rates For Super Senior Citizens (80 Years Or Above) | |
|---|---|
| Total Income (Rs.) | Tax Rate(%) |
| Upto Rs. 5,00,000* | Nil |
| 5,00,001 to 10,00,000 | 20 |
| Above Rs 10,00,000 | 30 |
| Notes:- 1. Education cess is applicable @ 4% on income tax 2. Rates of Surcharge :- | |
| Range of Income (Rs.) | Rate(%) |
|---|---|
| Rs. 50 Lakhs to Rs. 1 Crore | 10 |
| Rs. 1 Crore to Rs. 2 Crores | 15 |
| Rs. 2 Crores to Rs. 5 Crores | 25 |
| Exceeding Rs. 5 Crores | 37 |
| 3. Marginal relief may be available | |
| 4. Deduction under section 16(ia) of Rs. 50000. | |
| 5. A resident individual (whose net income does not exceed Rs. 5,00,000) can avail rebate under section 87A. It is deductible from income-tax before calculating education cess. The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less. | |
