Indian Income tax levies tax on individual taxpayers on the basis of a slab system. Slab system means different tax rates are prescribed for different ranges of income.
It means the tax rates keep increasing with an increase in the income of the taxpayer. This type of taxation enables progressive and fair tax systems in the country. Such income tax slabs tend to undergo a change during every budget. These slab rates are different for different categories of taxpayers. Income tax has classified three categories of “individual “taxpayers such as:
Individuals (aged less than of 60 years) including residents and non-residents
Resident Senior citizens (60 to 80 years of age)
Resident Super senior citizens (aged more than 80 years)
| Income Tax Slab | Tax Rates (As Per New Regime) | Tax Rates (As Per Old Regime) |
| Rs 0 – Rs 25,000 | Nil | Nil |
| Rs 2,50,001- Rs 5,00,000 | 5% | 5% |
| Rs 5,00,001 – Rs 7,50,000 | Rs 12,500 + 10% of total income exceeding Rs 5,00,000 | Rs 12,500 + 20% of total income exceeding Rs 5,00,000 |
| Rs 7,50,001 – Rs 10,00,000 | Rs 37,500 + 15% of total income exceeding Rs 7,50,000 | Rs 62,5000 + 20% of total income exceeding 7,50,000 |
| Rs 10,000,001 – Rs 12,50,000 | Rs 75,000 + 20% of total income exceeding Rs 10,00,000 | Rs 1,12,500 + 30% of total income exceeding Rs 10,00,000 |
| Rs 12,50,001 – Rs 15,00,000 | Rs 1,25,000 + 25% of total income exceeding Rs 12,50,000 | Rs 1,87,500 + 30% of total income exceeding Rs 12,50,000 |
| Above Rs 15,00,000 | Rs 1,87,500 + 30% of total income exceeding Rs 15,00,000 | Rs 2,62,500 + 30% of total income exceeding Rs 15,00,000 |
How To File Income Tax Return In Partially Online And Partially Offline Mode
In order to file income tax returns through the ITR-1 form in a partially online and partially offline mode, the taxpayer needs to download the pre-filled JASON file and use the JSON utility to fill in one’s income details for FY22. After this, the taxpayer needs to upload the filled JASON form on the income tax e-filing portal – incometax.gov.in – to complete the ITR filing process.
