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Income Tax Rates
Income Tax Rates | AY 2026–27
Tax Rates • India
Income Tax Rates
1. Resident Senior Citizens (Age 60 to 80 Years)
| Old Tax Slab | Rate | New Tax Slab (Sec 115BAC) | Rate |
|---|---|---|---|
| Up to Rs. 3,00,000 | NIL | Up to Rs. 4,00,000 | NIL |
| Rs. 3,00,001 – Rs. 5,00,000 | 5% | Rs. 4,00,001 – Rs. 8,00,000 | 5% |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% | Rs. 8,00,001 – Rs. 12,00,000 | 10% |
| Above Rs. 10,00,000 | 30% | Rs. 12,00,001 – Rs. 16,00,000 | 15% |
| Rs. 16,00,001 – Rs. 20,00,000 | 20% | ||
| Rs. 20,00,001 – Rs. 24,00,000 | 25% | ||
| Above Rs. 24,00,000 | 30% |
2. Resident Super Senior Citizens (Age above 80 Years)
| Old Tax Slab | Rate | New Tax Slab (Sec 115BAC) | Rate |
|---|---|---|---|
| Up to Rs. 5,00,000 | NIL | Up to Rs. 4,00,000 | NIL |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% | Rs. 4,00,001 – Rs. 8,00,000 | 5% |
| Above Rs. 10,00,000 | 30% | Rs. 8,00,001 – Rs. 12,00,000 | 10% |
| Rs. 12,00,001 – Rs. 16,00,000 | 15% | ||
| Rs. 16,00,001 – Rs. 20,00,000 | 20% | ||
| Rs. 20,00,001 – Rs. 24,00,000 | 25% | ||
| Above Rs. 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 Rs. 2,50,000 | NIL | Up to Rs. 4,00,000 | NIL |
| Rs. 2,50,001 – Rs. 5,00,000 | 5% | Rs. 4,00,001 – Rs. 8,00,000 | 5% |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% | Rs. 8,00,001 – Rs. 12,00,000 | 10% |
| Above Rs. 10,00,000 | 30% | Rs. 12,00,001 – Rs. 16,00,000 | 15% |
| Rs. 16,00,001 – Rs. 20,00,000 | 20% | ||
| Rs. 20,00,001 – Rs. 24,00,000 | 25% | ||
| Above Rs. 24,00,000 | 30% |
Important Notes
- New Tax Regime (Sec 115BAC) is the default regime.
- Rebate u/s 87A: Up to Rs. 60,000 for resident individuals → effective tax-free income up to Rs. 12 lakh, subject to eligibility and applicable exclusions.
- Standard Deduction (Salaried / Pensioners): Rs. 75,000 in New Regime → effective tax-free limit up to Rs. 12.75 lakh, subject to eligibility.
- Surcharge: 10% (above Rs. 50 lakh to Rs. 1 crore), 15% (above Rs. 1 crore to Rs. 2 crore), 25% (above Rs. 2 crore to Rs. 5 crore), 37% (above Rs. 5 crore), subject to regime-specific caps and marginal relief.
- Health & Education Cess: 4% on (Tax + Surcharge).
Reference layout based on the tax slab and note content supplied. Please verify current tax provisions, eligibility and surcharge limits before relying on these figures professionally.