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Figyan

A resource site for beginners with easy to understand income tax, gst, and finance tutorials for mastering the basics and beyond.

  • Income Tax
    • Income tax slabs FY 2024-25 (AY 2025-26)
    • Income tax slab & rates for FY 2023-24 (AY 2024-25)
    • Income tax return filing deadlines
    • Guide to Personal income tax return
    • Important dates in income tax
    • Ultimate Guide to Salary Taxation in India
    • How TDS on Dividend Income Works in India
  • GST
    • Top 10 GST Mistakes
    • Income Tax vs. Goods and Services Tax (GST)
    • GST e-Way Bill
    • How to identify a fake GST bill
    • Invoices issued under GST law
    • GST Reconciliation-Form GSTR-9C
    • GST Annual Return Form GSTR-9
  • TDS
    • Guide to TDS on Interest Income: Section 194A
    • TDS on Payments to Contractors and Professionals: Section 194M
    • Section 194T: TDS on Payments to Partners of Partnership Firms
    • Section 194J: TDS on fees for professional or technical services
    • TDS on commission and brokerage – Section 194H
    • Section 194D – TDS on Insurance Commission
  • MOA Main object – Samples
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income tax surcharge

Income tax slab rates for the financial year 2023-24 (AY 2024-25)

Last modified on December 18, 2023 by CA Bigyan Kumar Mishra

For the financial year 2023-24 (assessment year 2024-25), an individual has two choices. They can opt to pay taxes as per the old tax regime or they can go for a new tax regime under section 115BAC.In Budget 2023, income tax slabs as per the old tax regime remain the same. Which means the government of India has not done any changes.However, tax slabs and income tax … [Read more...] about Income tax slab rates for the financial year 2023-24 (AY 2024-25)

Key changes to new income tax regime FY 2025-26 (AY 2026-27)

Last modified on February 1, 2025 by CA Bigyan Kumar Mishra

Update: New tax regime slab rates for Financial Year 2025-26 (AY 2026-27)Here are the key changes proposed in budget 2025 for an individual.Income SlabsTax RatesUp to Rs 4 lakh0%Rs 4-8 lakh5%Rs 8-12 lakh10%Rs 12-16 lakh15%Rs 16-20 lakh20%Rs 20-24 lakh25%Above Rs 24 lakh30%No income tax payable on income up to Rs 12 lakh due to tax rebate. No income tax payable for Rs … [Read more...] about Key changes to new income tax regime FY 2025-26 (AY 2026-27)

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