The new financial year brings updated tax slabs, rules, and deadlines. Whether you’re salaried, self-employed, or a business owner, here’s everything you need to know for seamless income tax filing this year.
Key Updates for FY 2024-25:
New Regime vs Old Regime: New regime is now the default but taxpayers can still opt for the old one with deductions.
Revised Tax Slabs:
₹0 – ₹3 lakh: Nil
₹3 – ₹6 lakh: 5%
₹6 – ₹9 lakh: 10%
₹9 – ₹12 lakh: 15%
₹12 – ₹15 lakh: 20%
₹15 lakh and above: 30%
Documents Required:
- PAN, Aadhaar, Form 16
- Bank statements
- Investment proofs (LIC, ELSS, PF, etc.)
- Rent receipts, loan interest certificates
Tips:
- Link PAN with Aadhaar
- Choose the right regime carefully
- Use Form 26AS and AIS to reconcile income details
