Income tax slabs for salaried individuals for ITR filing FY 2024-25 (AY 202-26) under old, new tax regime

The Income Tax Department has extended the last date for filing the income tax return (ITR) for FY 2024-25 (AY 2025-26) to September 15, 2025, instead of the original July 31, 2025. The extension provides an extra 45 days to salaried individuals and other taxpayers to file their ITR. The deadline was extended due to the structural changes made to the Income Tax Act, 1961, which include modifications to the capital gain tax rules, income tax slabs under the new tax regime, and other related modifications.

ET Wealth online tells you about the income tax slabs under the old and new tax regimes that will apply to the salaried individuals while filing their ITRs for FY 2024-25.

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) to calculate income tax liability, provided you have opted for the new tax regime under Section 115BAC.

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

For the financial year 2024-25, a salaried taxpayer can claim a tax rebate of up to Rs 25,000 under Section 87A. This would mean that salaried individuals will pay zero tax if their net taxable income (Gross taxable income minus deductions, exemptions) does not cross Rs 7 lakh in FY 2024-25.

Also Read | Will you pay zero tax if taxable income, including LTCG, STCG, is below Rs 7 lakh?

Under the new tax regime, a salaried individual can claim two deductions - standard deduction from salary income and deduction on the employer's NPS contribution to the employee's account.

From FY 2024-25, a taxpayer can claim a standard deduction of Rs 75,000 from salary income 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 they opt for the new tax regime when filing the ITR.

Also Read | ITR-1 vs ITR-2 vs ITR-3: Which tax return form applies to your income this year?

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

No change has been announced in the income tax slabs under the old tax regime. 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

Salaried taxpayers should remember that the option to opt for the old tax regime while filing ITR for FY 2024-25 (AY 2025-26) can be availed if the income tax return (ITR) is filed on or before the due date, i.e., September 15, 2025. The new tax regime is the default tax regime. A belated ITR, submitted after the due date has expired, can only be filed under the new tax regime.

Zero tax on incomes up to Rs 12 lakh from this FY

Salaried individuals should note that the government's announcement of zero tax on incomes up to Rs 12 lakh applies to the current financial year, 2025-26. This means you don't have to pay any tax on the income earned between April 1, 2025, and March 31, 2026, if net taxable income does not exceed Rs 12 lakh.