In India, income tax is a cornerstone of personal finance, affecting how much of your hard-earned money stays in your pocket. The government employs a progressive tax slab system, where higher income levels attract higher tax rates. For the Financial Year (FY) 2024-25, corresponding to Assessment Year (AY) 2025-26, taxpayers have the flexibility to choose between two regimes: the **Old Tax Regime** and the **New Tax Regime**. Each offers distinct slab rates, benefits, and trade-offs, making it crucial to understand them thoroughly.

This detailed guide covers the income tax slabs for FY 2024-25 (AY 2025-26), explains the differences between the New and Old Regimes, highlights Budget 2024 updates, and provides actionable insights to optimize your tax planning. Whether you’re a salaried employee, a senior citizen, or a business owner, this article has you covered. Let’s get started!