Income tax slabs for ITR filing FY 2024-25 are different under new tax regime: Check details

The income tax return filing for FY 2024-25 (AY 2025-26) is upon us. However, many taxpayers are unaware of the income tax slabs that will apply to their income under the new tax regime, which is necessary to calculate their tax liability. This is because the income tax slabs for FY 2024-25 (AY 2025-26), i.e., for the previous financial year, differ from those for the current financial year 2025-26.

While filing an income tax return for AY 2025-26, a taxpayer has to use the income tax slabs for the FY 2024-25. A taxpayer who files ITR now for FY 2024-25 will not be able to claim a tax rebate under section 87A on net taxable income up to Rs 12 lakh, which was announced in Budget 2025. This is because this tax rebate is applicable on incomes earned in current financial year between April 1, 2025, and March 31, 2026, i.e., for FY 2025-26. However, under the new tax regime, he can still claim a tax rebate under section 87A on net taxable income up to Rs 7 lakh while filing ITR. Similarly, the income tax slabs announced in Budget 2025 wont be applicable when you file ITR but the older one.

ET Wealth Online provides you a ready reference of the income tax slabs for FY 2024-25 (AY 2025-26) under the new and old tax regimes.

Income tax slabs in new tax regime for ITR filing FY 2024-25 (AY 2025-26)

Here are the income tax slabs for FY 2024-25 (AY 2025-26) that will help you calculate your income tax liability under the new tax regime.

Income tax slabs in new tax regime FY 2024-25 (AY 2025-26)

Income tax slabs in old tax regime for ITR filing FY 2024-25 (AY 2025-26)

The income tax slabs under the old tax regime depend on the taxpayer’s age in FY 2024-25, i.e., between April 1, 2024, and March 31, 2025.

Income tax slabs for individuals aged below 60 years

Income tax slabs for individuals aged above 60 years below 80 years

Income tax slabs for individuals aged above 80 years

Things to keep in mind while filing ITR

Last date to file ITR extended for certain taxpayers: The Income Tax Department has extended the deadline to file ITR for FY 2024-25 (AY 2025-26) from July 31, 2025, to September 15, 2025. This ITR filing deadline extension applies to salaried employees, individuals, and other taxpayers whose accounts are not required to be audited.

Old tax regime option is available till this date: If you are planning to opt for the old tax regime while filing ITR for FY 2024-25 (AY 2025-26), then ensure that your income tax return is filed before the due date, i.e., on or before September 15, 2025.

This is because the new tax regime is the default tax regime. If the ITR is filed after the expiry of the due date, then a belated ITR can be filed under the new tax regime only.

Higher standard deduction, NPS employer’s contribution: Under the new tax regime, a taxpayer can claim a higher standard deduction from salary income and higher deduction on employer’s NPS contribution.

Budget 2024 hiked the standard deduction from salary income to Rs 75,000 under the new tax regime. Similarly, salaried employees can claim a deduction of up to 14% of their basic salary under Section 80CCD (2) if new tax regime is opted while filing ITR.

Source: The Economic Times