Changes in Income Tax Slabs for FY 2024-25 Under the New Tax Regime; Check Before ITR Filing
14 June 2025Nidhi
Changes in Income Tax Slabs for FY 2024-25 Under the New Tax Regime; Check Before ITR Filing
When you are filing your Income Tax Return (ITR) for the Assessment Year 2025-26 (FY 2024-25), you need to use the income tax slabs for FY 2024-25. If you are filing your ITR now for FY 2024-25, you cannot claim the new Rs. 12 lakh rebate, as this rebate is for incomes earned during the FY 2025-26. However, under the new tax regime, you can still claim the existing tax rebate under section 87A for income up to Rs. 7 lakh.
The new income tax slabs announced in Budget 2025 will only apply from April 1, 2025, so they will not be applicable for the ITR you are filing now.