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Income Tax Slabs

Old Regime

New Regime

Surcharge Rate

₹0 - ₹2.5 lakh 

exempted

exempted

0

₹2.5 lakh - ₹5 lakh

5%

5%

0

₹5 lakh - ₹7.5 lakh

20%

10% 

0

₹7.5 lakh - ₹10 lakh

20%

15%

0

₹10 lakh to ₹12.5 lakh

30%

20%

0

₹12.5 lakh - ₹15 lakh

30%

25%

0

₹15 lakh - ₹50 lakh

30%

30%

0

₹50 lakh - ₹1 crore

30%

30%

10

₹1 crore - ₹2 crore

30%

30%

15

₹2 crore - ₹5 crore

30%

30%

25

₹5 crore - ₹5 crores and Above

30%

30%

37

Under the old regime, taxpayers will continue to enjoy the same benefits and deductions as before. Under the new regime, tax rates are lower than before, provided taxpayer let goes of the following exemptions and deductions:

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