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2026 TAX HIGHLIGHTS_
updated @ 1 Feb 2025 budget
No changes in Income tax calculation FOR OLD SCHEME
Under the newly announced tax slabs under the new regime, no income tax will be payable on annual income of up to Rs 12,00,000. For salaried individuals opting for the new tax regime, income of up to Rs 12,75,000 will be tax-free.
Budget doubles limit for tax deduction on interest earned by senior citizens from the present ₹ 50,000 to ₹ 1 Lakh.
ഇൻകം ടാക്സ് കണക്കാക്കുന്നതിന് New regime default option ആയിരിക്കും.
New Regime tax payers get Standard deduction of 75000 while old Regime tax payers remain at 50000 (No change)
Marginal relief in new tax regime
The marginal relief for income tax rebate is a new amendment to Section 87A applicable only to the new tax regime. Instead of paying the full tax amount if your income is more significant than Rs. 12,00,000, you can pay only a small amount for the excess income.OLD REGIME TAX
old Regime സ്ലാബ് നിരക്കുകളിൽ മാറ്റമൊന്നുമില്ല.
(OLD Regime ൽ ആദ്യ 2.5 ലക്ഷം നികുതി രഹിതം. Standard deduction 50000, Upto 5 L income tax rebate 12500, 80 C & deductions available)
ടാക്സ് സ്ലാബ്
below 60 yr - Up to 2.5 L - 0% , 2.5 - 5 L - 5% , 5 - 10 L- 20% , 10 L above - 30%
60 yr above - Up to 3 L - 0% , 3 - 5 L - 5% , 5 - 10 L- 20% , 10 L above - 30%
80 yr above - Up to 5 L - 0% , 5 - 10 L- 20% ,
10 L above - 30%
NEW REGIME TAX
New regime ൽ ആദ്യ 4 ലക്ഷം നികുതി രഹിതം. Standard deduction 75000 , upto 12 L tax rebate ലഭ്യമാണ്. അതിനു ശേഷം
ടാക്സ് സ്ലാബ് .
Up to 4 L - 0% , 400001 - 8 L - 5% , 800001 - 12 L- 10% , 1200001 - 16 L - 15% ,1600001 - 20 L- 20% , 2000001 - 24 L- 25% ,24L above - 30%
The
new tax regime has the same tax rate for all categories of individuals
with no difference in slabs for senior & supersenior
