Income Tax in India — Overview
Income tax in India is levied on individuals, HUFs, firms, LLPs, and companies under the Income Tax Act, 1961. For FY 2025-26, taxpayers can choose between the old regime (with deductions) and the new tax regime (lower rates, fewer deductions).
New Tax Regime vs Old Tax Regime FY 2025-26
| Income Slab | New Regime Rate | Old Regime Rate |
|---|---|---|
| Up to ₹3 lakh | Nil | Nil |
| ₹3–7 lakh | 5% | 5% |
| ₹7–10 lakh | 10% | 20% |
| ₹10–12 lakh | 15% | 30% |
| Above ₹15 lakh | 30% | 30% |
All Income Tax & ITR Guides
Browse our complete income tax filing and compliance library:
- TDS Returns as per New Income Tax Act 2025: Forms, Due Dates, Codes & Compliance Guide — Tax Year 2026-27
- Income Tax Changes April 2026: 12 Critical Updates Every Taxpayer & Investor Must Know
- TDS & Income Tax Updates April 2026: The Essential Complete Guide to New Act, Sections & Forms
- New Labour Codes 2026: The Essential Complete Guide — Salary, PF & Compliance
- 15 Critical ITR Filing Mistakes to Avoid in FY 2025-26
- 50% Wage Rule New Labour Code 2025: Complete Guide to Salary, PF & Gratuity Impact
- ITR Filing FY 2025-26: Complete Guide, Due Dates & Forms
- Capital Gains Tax India 2025: Ultimate Expert Guide to LTCG & STCG
- How to File ITR Online FY 2025-26: Complete Expert Guide — All Forms & Due Dates
- New Income Tax Act 2025 vs Old Income Tax Act 1961: Complete Essential Guide
- TDS Rates Under New Income Tax Act 2025: Complete Essential Rate Chart FY 2026-27
- Income Tax Kaise Bachaye FY 2025-26 — 15 Proven Tarike aur Complete New vs Old Regime Guide
- 15 Proven Income Tax Saving Tips India FY 2025-26: Essential New vs Old Regime Guide
- New Income Tax Act 2025: 1 April से 8 Essential Changes जो हर Indian को पता होने चाहिए
- New Income Tax Act 2025: 8 Critical Changes Every Indian Taxpayer Must Know
- New Income Tax Act 2025: Definitive Business Owner’s Guide — What Changes from April 1, 2026
- Year-End GST & Income Tax Compliance Checklist for FY 2025-26
- Union Budget 2026-27: Complete Guide for Businesses & Taxpayers
- Complete Guide to Income Tax Return Filing in India (FY 2025-26)
- Old vs New Income Tax Regime 2025 – Full Comparison Guide