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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 115BAC Amended: New Progressive Tax Rates Effective April 2026 for Different Income Brackets</h1> Section 115BAC of the Income-tax Act is amended to revise the tax computation for the assessment year starting on or after April 1, 2026. The amendment omits certain words in clause (ii) and introduces a new clause (iii), which specifies a tax rate table. The table outlines a progressive tax rate structure: no tax for income up to Rs. 4,00,000, 5% for income between Rs. 4,00,001 and Rs. 8,00,000, 10% for Rs. 8,00,001 to Rs. 12,00,000, 15% for Rs. 12,00,001 to Rs. 16,00,000, 20% for Rs. 16,00,001 to Rs. 20,00,000, 25% for Rs. 20,00,001 to Rs. 24,00,000, and 30% for income above Rs. 24,00,000.
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