�� 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)
