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of <h1>Section 115BAC tax rates for 2025-26: nil to 30% across income slabs, requires forgoing deductions</h1> The income tax rates under Section 115BAC for individuals and Hindu Undivided Families under the new tax regime. For Assessment Year 2025-26, tax rates range from nil on income up to Rs. 3 lakhs to 30% on income above Rs. 15 lakhs, with revised slabs compared to previous years. The regime requires taxpayers to forgo various deductions and exemptions including house rent allowance, leave travel concession, additional depreciation, and most Chapter VI-A deductions. Surcharge applies at 10%, 15%, or 25% based on income levels, with 4% health and education cess. Taxpayers without business income can opt annually, while those with business income face restrictions on switching regimes. Rebate under Section 87A provides relief for lower income groups.
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