Introduction With rising incomes and a revised tax system, effective tax planning is key to saving money. The government offers two tax regimes — Old and New — and choosing the right one can significantly impact your tax outgo. Here’s a detailed guide to help you plan better. Latest Income Tax Slabs – FY 2025–26 (AY 2026–27) New Tax Regime (Default Regime) Income Range Tax Rate Up to 4,00,000 Nil 4,00,001 – 8,00,000 5% 8,00,001 – 12,00,000 10% 12,00,001 – 16,00,000 15% 16,00,001 – 20,00,000 20% 20,00,001 – 24,00,000 25% Above 24,00,000 30% Section 87A Rebate : Available for income up to 7 lakh (Old Regime) Available for income up to 12 lakh (New Regime — FY 2025–26 onwards) Full rebate means no tax payable if income ≤ 12 ...
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