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New tax slabs 2025: How much tax you have to pay on ₹15 lakh,₹20 lakh,₹25 lakh, ₹35 lakh, ₹45 lakh income
5 min read | Updated on February 03, 2025, 13:33 IST
SUMMARY
New tax slabs announced in Budget 2025: FM Sitharaman's tax announcements are set to benefit all individual taxpayers, especially those earning up to ₹12 lakh as they won't have to pay taxes if opting for the new regime, provided they don't have capital gains income. It is estimated that individuals earning up to ₹50 lakh can save up to ₹1.1 lakh due to the new slabs.
Check how tax you have to pay on different income levels. | Image source: Shutterstock
Normal income includes income from salary, pension and bank deposits. Special interest income like capital gains is not considered as a normal income.
Salaried taxpayers earning up to ₹12.75 lakh would not have to pay taxes due to ₹75,000 standard deduction in the new regime.
FM Sitharaman's tax announcements are set to benefit all individual taxpayers, especially those earning up to ₹12 lakh, as they won't have to pay taxes if opting for the new regime, provided they don't have capital gains income.
Tax on ₹15 lakh income
The total tax payable on ₹15 lakh income as per the revised tax slabs of the new tax regime in Budget 2025 is ₹1,05,000, excluding health and education cess.
| Income Range | Tax rate | Tax Amount |
|---|---|---|
| ₹0 - ₹4,00,000 | Rs. 0 | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹ 40,000 |
| ₹12,00,001 - ₹15,00,000 | 15% | ₹ 45,000 |
| Total tax | ₹105,000 |
Tax on ₹20 lakh income
The total tax payable on ₹20 lakh income as per the revised tax slabs of the new tax regime in Budget 2025 is ₹2 lakh, excluding health and education cess.
| Income Range | Tax rate | Tax Amount |
|---|---|---|
| ₹0 - ₹4,00,000 | Rs. 0 | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹ 40,000 |
| ₹12,00,001 - ₹16,00,000 | 15% | ₹ 60,000 |
| ₹16,00,001 - ₹20,00,000 | 20% | ₹ 80,000 |
| Total tax | ₹2 lakh |
Tax on ₹25 lakh income
The total tax payable on ₹25 lakh income as per the revised tax slabs of the new tax regime in Budget 2025 is ₹3.3 lakh, excluding cess and surcharges.
| Income Range | Tax rate | Tax Amount |
|---|---|---|
| ₹0 - ₹4,00,000 | Rs. 0 | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹ 40,000 |
| ₹12,00,001 - ₹16,00,000 | 15% | ₹ 60,000 |
| ₹16,00,001 - ₹20,00,000 | 20% | ₹ 80,000 |
| ₹20,00,001 - ₹24,00,000 | 25% | ₹1,00,000 |
| ₹24,00,001 - ₹25,00,000 | 30% | ₹30,000 |
| Total tax | ₹3,30,000 |
Tax on ₹35 lakh income
The total tax payable on ₹35 lakh income as per the revised tax slabs of the new tax regime in Budget 2025 is ₹6.6 lakh, excluding cess and surcharges.
| Income Range | Tax rate | Tax Amount |
|---|---|---|
| ₹0 - ₹4,00,000 | Rs. 0 | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹ 40,000 |
| ₹12,00,001 - ₹16,00,000 | 15% | ₹ 60,000 |
| ₹16,00,001 - ₹20,00,000 | 20% | ₹ 80,000 |
| ₹20,00,001 - ₹24,00,000 | 25% | ₹1,00,000 |
| ₹24,00,001 - ₹35,00,000 | 30% | ₹3,30,000 |
| Total tax | ₹6,60,000 |
Tax on ₹45 lakh income
The total tax payable on ₹45 lakh income as per the revised tax slabs of the new tax regime in Budget 2025 is ₹9.3 lakh, excluding cess and surcharges.
| Income Range | Tax rate | Tax Amount |
|---|---|---|
| ₹0 - ₹4,00,000 | Rs. 0 | ₹0 |
| ₹4,00,001 - ₹8,00,000 | 5% | ₹20,000 |
| ₹8,00,001 - ₹12,00,000 | 10% | ₹ 40,000 |
| ₹12,00,001 - ₹16,00,000 | 15% | ₹ 60,000 |
| ₹16,00,001 - ₹20,00,000 | 20% | ₹ 80,000 |
| ₹20,00,001 - ₹24,00,000 | 25% | ₹1,00,000 |
| ₹24,00,001 - ₹45,00,000 | 30% | ₹6,30,000 |
| Total tax | ₹9,30,000 |
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