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    Tax Rates

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    varsha.joy

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    Tax Rates

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    Tax rates (1)

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    Tax Rates

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    varsha.joy

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    © All Rights Reserved
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    of 6

    INCOME TAX RATES FOR ASST YEAR 2025-26

    I. DEFAULT TAX REGIME U/S 115BAC – INDIVIDUALS


    A. INCOME TAX
    Total Income Tax Tax calculation
    Rat
    e
    Up to Rs. 3,00,000 NIL Zero
    Rs. 3,00,001 to Rs. 7,00,000 5% Zero + 5% in excess of Rs. 3,00,000
    Rs. 7,00,001 to 10,00,000 10% Rs. 20,000 + 10% in excess of 7 Lakhs
    Rs. 10,00,001 to 12,00,000 15% Rs. 50,000 + 15% in excess of 10 lakhs
    Rs. 12,00,001 to 15,00,000 20% Rs. 80,000 + 20% in excess of 12 Lakhs
    Above 15,00,000 30% Rs. 1,40,000+ 30% in excess of 15
    Lakhs

    B. SURCHARGE
    Income Range Rate of SC
    Less Than 50 Lakhs (irrespective of nature of income) NIL
    Above 50 Lakhs to 1 Crore (irrespective of nature of 10%
    income)
    Above 1 Crore to 2 Crore (irrespective of nature of income) 15%
    Above 2 Crore:
    a) If includes dividend income, Capital gains
    chargeable u/s 112, 111A and 112A 15%
    b) Other income if:
    i) Does not exceed Rs. 2 Crore 15%
    ii) If exceeds Rs. 2 crore 25%

    C. CESS : 4% on Income Tax plus Surcharge irrespective of quantum of


    income.

    D. REBATE: For resident individuals only


    a) Income up to Rs. 7,00,000/- = Rebate up to Tax amount of Rs. 25,000.
    b) Income more than 7,00,000/- = If the income tax payable on such total
    income exceeds the amount by which the total income is in excess of Rs.
    7,00,000;, then the rebate shall be tax on total income as reduced by total
    income exceeding Rs. 7,00,000/-.

    E. CONDITIONS FOR DEFAULT TAX REGIME


    F. SHIFTING OUT OF DEFAULT TAX REGIME

    a) Individual not having business or profession income : Can shift out of


    default tax regime to old tax regime within due date of filing return of
    income u/s 139(1) [usually before 31st July of Assessment year]. Such
    individual can any time shift back to default tax regime and then again go
    back to old tax regime as per his wish.
    b) Individual having business or profession income: Can shift out of default
    tax regime to old tax regime within due date of filing return of income u/s
    139(1). [usually before 31st july or 31st October as the case may be].
    However such individual will be entitled to shift only once from old tax
    regime to new tax regime.

    II. INCOME TAX RATES – OPTIONAL TAX REGIME


    A.
    B. SURCHARGE
    Income Range Rate of SC
    Less Than 50 Lakhs (irrespective of nature of income) NIL
    Above 50 Lakhs to 1 Crore (irrespective of nature of 10%
    income)
    Above 1 Crore to 2 Crore (irrespective of nature of income) 15%
    Above 2 Crore to 5 Crore
    a) If includes dividend income, Capital gains
    chargeable u/s 112, 111A and 112A 15%
    b) Other income if:
    i. Does not exceed Rs. 2 Crore 15%
    ii. If exceeds Rs. 2 crore 25%
    Above 5 Crore
    a) If includes dividend income, Capital gains
    chargeable u/s 112, 111A and 112A 15%
    b) Other income if:
    i. Does not exceed Rs. 5 Crore 15%
    ii. If exceeds Rs. 5 crore 37%

    C. CESS : 4% on Income Tax plus Surcharge irrespective of quantum of


    income.
    D. REBATE: For resident individuals only : Rebate up to Rs. 12,500, if the
    total income is less than 5,00,000.

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