Explanation
Old tax regime (optional, must opt via Form 10-IEA): Up to ₹2,50,000: 0% (₹3,00,000 for residents aged 60–80; ₹5,00,000 for residents above 80). ₹2,50,001–₹5,00,000: 5%. ₹5,00,001–₹10,00,000: 20%. Above ₹10,00,000: 30%. Rebate under §87A: ₹12,500 for net income ≤ ₹5,00,000. The old regime allows deductions: 80C (₹1.5L), 80D, HRA, LTA, home loan interest, etc. For FY 2025-26 these are the applicable rates under IT Act 1961. Verify on the income-tax portal before filing.