�� Revised Tax Slabs for FY 2024-255

 ₹0 to ₹3,00,000 – 0%

 ₹3,00,001 to ₹7,00,000 – 5%

 ₹7,00,001 to ₹10,00,000 – 10%

 ₹10,00,001 to ₹12,00,000 – 15%

 ₹12,00,001 to ₹15,00,000 – 20%

 Above ₹15,00,000 – 30%

�� Key Benefits Under the New Regime

 Standard Deduction increased from ₹50,000 to ₹75,000

 Family Pension Deduction raised from ₹15,000 to ₹25,000

 Employer’s NPS Contribution Deduction increased from 10% to 14%

�� Major Tax Reforms

 Rebate Limit under Section 87A increased to ₹25,000 for incomes up to ₹7

lakhs

 Leave Encashment Exemption raised from ₹3 lakhs to ₹25 lakhs

 Life Insurance Taxation introduced for policies with annual premiums above ₹5 lakhs

 Capital Gains Tax Changes:

 LTCG Tax Rate reduced to 12.5%

 STCG Tax Rate increased to 20%

 Exemption limit under Section 112A raised to ₹1.25 lakhs

 Buyback Tax now applies as deemed dividends

�� Presumptive Taxation Updates

 Small Business Turnover Limit increased from ₹2 crore to ₹3 crore

 Professional Income Limit raised from ₹50 lakhs to ₹75 lakhs

 95% of receipts must be through online modes

�� ITR Filing Deadline Extended

 New deadline for non-audit cases: September 15, 2025 (previously July 31)