Union Budget 2025-26 (Full) + Finance Bill, 2025
Tax rates under Part I of the First Schedule applicable for the assessment year 2025-26
A. Individual, HUF, association of persons, body of individuals, artificial juridical person.
Paragraph A of Part-I of First Schedule to the Bill provides following rates of income-tax:—
(i) The rates of income-tax in the case of every individual (other than those mentioned in (ii) and (iii) below) or HUF or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Act (not being a case to which any other Paragraph of Part I applies) are as under:—
(1) | Upto Rs. 2,50,000 | Nil |
(2) | From Rs. 2,50,001 to Rs. 5,00,000 | 5% |
(3) | From Rs. 5,00,001 to Rs. 10,00,000 | 20% |
(4) | Above Rs. 10,00,000 | 30% |
(ii) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year,—
(1) | Upto Rs. 3,00,000 | Nil |
(2) | From Rs. 3,00,001 to Rs.5,00,000 | 5% |
(3) | From Rs. 5,00,001 to Rs.10,00,000 | 20% |
(4) | Above Rs. 10,00,000 | 30% |
(iii) in the case of every individual, being a resident in India, who is of the age of eighty years or more at any time during the previous year,—
(1) | Upto Rs. 5,00,000 | Nil |
(2) | From Rs. 5,00,001 to Rs.10,00,000 | 20% |
(4) | Above Rs. 10,00,000 | 30% |
These rates are the same as those applicable for the assessment year 2024-25.
Full Text:
Union Budget 2025-26 (Full) + Finance Bill, 2025
Tax rates: existing graduated income-tax slab structure for individuals and related entities remains unchanged for the assessment year. Part I of the First Schedule to the Finance Bill, 2025 prescribes graduated income-tax slabs and corresponding percentage rates for assessment year 2025-26 applicable to individuals, HUFs, associations of persons, bodies of individuals and certain artificial juridical persons. It distinguishes three resident-individual categories by age with differing basic-exemption thresholds and applies graduated marginal rates across successive income bands. The schedule for 2025-26 is stated to be unchanged from the prior assessment year.
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