What are the rates of income tax in old regime and new regime for AY 2024-25?

Rates of income tax in old regime and new retime for AY 2024-25 (FY 2023-24) are as below.

Old Tax Regime-

In the old tax regime, the rates of income tax and its slabs are as below:

For Individual (resident or non-resident)  

For Senior Citizens (resident or non-resident)

For Super Senior Citizens (resident or non-resident) 80+ years:

For Hindu Undivided Family (HUF) :

New Tax Regime-

In the new tax regime, the rates of income tax and its slabs are as below:

For Individuals (resident or non-resident): 

For Senior Citizens (resident or non-resident):

For Super Senior Citizens (resident or non-resident) 80+ years :

For Hindu Undivided Family (HUF) :

Note:

The rates of Surcharge and Health & Education cess are same under both the tax regimes.

Rebate u/s 87A: Resident Individual whose Total Income is not more than ₹ 5,00,000 is also eligible for a Rebate of up to 100% of income tax or ₹ 12,500, whichever is less. This Rebate is available in both tax regimes.

Also Read:

Rates of Income Tax for AY 2023-24