How it works
Slabs are nil to ₹4 lakh, then 5%, 10%, 15%, 20%, 25% and 30% above ₹24 lakh. Resident individuals with taxable income up to ₹12 lakh pay no tax, and a marginal-relief rule limits tax just above that. Slabs, the ₹12 lakh rebate limit and the ₹75,000 standard deduction match the Government of India’s Budget announcement (PIB). Check the Income Tax Department for any later change.