New Tax Regime vs Old Tax Regime
From FY 2025-26, the new tax regime is the default option. Taxpayers must explicitly opt for the old regime if they wish to claim deductions under Chapter VI-A.
New Tax Slabs (FY 2024-25)
- Up to Rs. 3 lakhs: Nil
- Rs. 3 to 7 lakhs: 5%
- Rs. 7 to 10 lakhs: 10%
- Rs. 10 to 12 lakhs: 15%
- Rs. 12 to 15 lakhs: 20%
- Above Rs. 15 lakhs: 30%
Key Deadlines
- July 31, 2025: ITR filing deadline for individuals (non-audit cases)
- October 31, 2025: Audit cases
- November 30, 2025: Transfer pricing cases
Documents Needed
Keep ready your Form 16, Form 26AS, AIS (Annual Information Statement), interest certificates, investment proofs, and bank statements before filing.
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