Rates of Tax for the A.Y. 2024-25 (P.Y. 2023-24)

 

A.   Winnings from lotteries, Crossword Puzzles or races including horse races card games etc. (Sec 115BB) Income tax payable is 30%

 

B.    Income by way of transfer of carbon credits (Sec 115BBG) Income tax payable is 10%

 

C.    Short Term Capital Gain (Sec 111A) Income tax payable is 15%

 

D.   Long Term Capital Gain (Sec 112) Income tax payable is 20% (L.T.C.G without indexing is 15%)

 

E.    Long Term Capital Gain on Equity Shares (Sec 112A) L.T.C.G on sale of equity shares or units of an equity oriented mutual funds or units of business trust is taxable at 10% exceeding Rs. 1,00,000

 

F.    Dividend in excess of Rs. 10,00,000 on gross basis is chargeable to tax at 10%

 

G.   Tax on reaming income  at normal rate given below

 

Old Regime Slabs Rates

Resident Citizen (Below 60 Years)		Resident Senior Citizen (Above 60 years but below 80 years)		Resident Very Senior Citizen (Above 80 years)
2,50,000	Nil	300000	Nil	500000	Nil
2,50,001 to 5,00,000	5%	300001 to 500000	5%	5,00,001 to 10,00,000	20%
5,00,001 to 10,00,000	20%	5,00,001 to 10,00,000	20%	10,00,001	30%
10,00,001	30%	10,00,001	30%

 

 

New Regime Slabs Rates

Resident Citizen
3,00,000	Nil
3,00,001 to 6,00,000	5%
6,00,001 to 9,00,000	10%
9,00,001 to 12,00,000	15%
12,00,001 to 15,00,000	20%
15,00,000	30%