Income Tax Slabs (FY 2023-24 vs FY 2024-25)
| Tax Slab FY 2023-24 | Tax Rate | Tax Slab FY 2024-25 | Tax Rate |
|---|---|---|---|
| Upto ₹3 lakh | Nil | Upto ₹3 lakh | Nil |
| ₹3 – 6 lakh | 5% | ₹3 – 7 lakh | 5% |
| ₹6 – 9 lakh | 10% | ₹7 – 10 lakh | 10% |
| ₹9 – 12 lakh | 15% | ₹10 – 12 lakh | 15% |
| ₹12 – 15 lakh | 20% | ₹12 – 15 lakh | 20% |
| Above ₹15 lakh | 30% | Above ₹15 lakh | 30% |
Standard Deduction: ₹75,000 (Salary/Pension), ₹25,000 (Family Pension)
Taxes on Investment Products
| Product | Holding Period | STCG | LTCG |
|---|---|---|---|
| Fixed Deposits | - | Taxed as per slab; 10% TDS if interest > ₹50,000 | |
| Listed Bonds | Up to 12 mo | As per slab | 12.5% |
| Unlisted Bonds/MLDs | Up to 24 mo | As per slab | 12.5% |
| Equity Shares/Mutual Funds | Up to 12 mo | 20% | 12.5% on gains > ₹1.25L |
| Gold/Silver ETFs | Up to 12 mo | As per slab | 12.5% |
Property, Gold & Jewellery
| Asset Type | Holding | Tax Details |
|---|---|---|
| Real Estate | <24 mo | As per slab |
| Real Estate | >24 mo | 12.5% without indexation / 20% with indexation |
| Gold/Silver | >24 mo | 12.5% LTCG |
| Physical Gold | >24 mo | 12.5% |
EPF, PPF & NPS
| Scheme | Tax Benefit |
|---|---|
| EPF | Deduction up to ₹1.5L under Sec 80C; interest > ₹2.5L taxable |
| PPF | Interest & maturity tax-free under Sec 80C |
| NPS | Employer contribution deduction up to 14% under Sec 80CCD(2) + ₹50k extra under 80CCD(1B) |
Note: Always consult a Chartered Accountant before filing taxes.