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Income Tax Rates
Income Tax Rates | AY 2026-27
Income Tax Rates
ASSESSMENT YEAR: 2026–27 | PREVIOUS YEAR: 2025–26
1. Resident Senior Citizens (Age 60 to below 80 Years)
| Old Tax Slab | Rate | New Tax Slab (Sec. 115BAC) | Rate |
|---|---|---|---|
| Up to ₹3,00,000 | NIL | Up to ₹4,00,000 | NIL |
| ₹3,00,001 – ₹5,00,000 | 5% | ₹4,00,001 – ₹8,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹8,00,001 – ₹12,00,000 | 10% |
| Above ₹10,00,000 | 30% | ₹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% |
2. Resident Super Senior Citizens (Age 80 Years or Above)
| Old Tax Slab | Rate | New Tax Slab (Sec. 115BAC) | Rate |
|---|---|---|---|
| Up to ₹5,00,000 | NIL | Up to ₹4,00,000 | NIL |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹4,00,001 – ₹8,00,000 | 5% |
| Above ₹10,00,000 | 30% | ₹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% |
3. Individuals, HUF, AOP, BOI, AJP (Other than Senior Citizens)
| Old Tax Slab | Rate | New Tax Slab (Sec. 115BAC) | Rate |
|---|---|---|---|
| Up to ₹2,50,000 | NIL | Up to ₹4,00,000 | NIL |
| ₹2,50,001 – ₹5,00,000 | 5% | ₹4,00,001 – ₹8,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% | ₹8,00,001 – ₹12,00,000 | 10% |
| Above ₹10,00,000 | 30% | ₹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% |
Important Notes
- Default regime: New Tax Regime under Section 115BAC, subject to eligible opt-out.
- Rebate u/s 87A: Up to ₹60,000 for eligible resident individuals with taxable income up to ₹12,00,000 under the New Regime, subject to restrictions including special-rate income.
- Standard Deduction: ₹75,000 under the New Regime for eligible salaried employees and pensioners; salary income of ₹12.75 lakh may consequently result in nil tax, subject to eligibility and income composition.
- Surcharge: Over ₹50 lakh–₹1 crore: 10%; over ₹1 crore–₹2 crore: 15%; over ₹2 crore–₹5 crore: generally 25%; above ₹5 crore: generally 25% under New Regime and up to 37% under Old Regime. Certain categories of income have lower caps; marginal relief may apply.
- Health & Education Cess: 4% of income tax plus applicable surcharge.
Reference: Income Tax Department, India • For informational purposes; actual liability depends on eligibility, income type and applicable tax law.