Tax Slab / Tax Bracket
Definition
Progressive income tax rate structure applied to different bands of taxable income. Rates and bands differ between the Old Tax Regime and New Tax Regime.
In Context
New Regime (default): 0% up to ₹4L; 5% ₹4–8L; 10% ₹8–12L; 15% ₹12–16L; 20% ₹16–20L; 25% ₹20–24L; 30% above ₹24L. Old Regime: 0% up to ₹2.5L; 5% ₹2.5–5L; 20% ₹5–10L; 30% above ₹10L.
Related Terms
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