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of <h1>Finance Act 2025 Sets New Income Tax Rates with Special Rules for Agricultural Income and Senior Citizens</h1> The Finance Act, 2025 establishes income tax rates for the 2025-2026 assessment year. It details tax calculation methods, including surcharges based on income brackets and taxpayer categories. For individuals with agricultural income exceeding 5,000 alongside regular income above 2.5 lakh, special calculation rules apply. The act specifies different tax thresholds for seniors (3 lakh for those 60-80 years; 5 lakh for those above 80). Additional provisions cover Health and Education Cess at 4% on tax and surcharge amounts. Various surcharge rates apply depending on taxpayer category and income level, with marginal relief mechanisms preventing disproportionate tax increases at threshold boundaries.
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