Income Tax Slab For Women For FY 2024-25: Tax Limit And Exemptions

Under the new tax regime, the income tax slabs for women for FY 2025-26 (AY 2026-27) are as follows: Rs. 0 to Rs. 4 lakh – Nil, Rs. 4 lakh to Rs. 8 lakh – 5%, Rs. 8 lakh to Rs. 12 lakh – 10%, Rs. 12 lakh to Rs. 16 lakh – 15%, Rs. 16 lakh to Rs. 20 lakh – 20%, Rs. 20 lakh to Rs. 24 lakh – 25%, and income above Rs. 24 lakh will be taxed at 30%. 

Though there were concessional tax slab rates for women in the past, currently, there are no reduced income tax slab rates specifically for women. In this article, we will discuss the income tax slab rates applicable for women under both the old and new regimes.

Income Tax Slabs

Income Tax Slabs under New Regime

The revised tax slabs under the new regime for FY 2025-26 (AY 2026-27) are as follows:

The income tax slabs under the new regime for FY 2024-24 (AY 2025-26) is given below:

Income Tax Slabs under Old Regime

In India, under the old tax regime, the tax slabs and rates depend upon the age and income of the taxpayer. For income tax purposes an individual can be categorized into:

• Individuals - Residents below 60 years of age and Non-Residents
• Senior citizens - Individuals over 60 years of age
• Super senior citizens - Individuals over 80 years of age

Income Tax Slab for Women below 60 Years of age and Non-Resident Women for FY 2024-25

Income Tax Slab for Senior Citizen Women over 60 Years of age

Income Tax Slab for Super Senior Citizen Women over 80 Years of age

Rebate

In the case of lower income class of women, where income is up to Rs. 7 lakhs, tax rebate up to Rs. 25,000 can also be availed in case of the new regime whereas, in case of the old regime where income is up to Rs 5 lakhs, tax rebate up to Rs. 12,500 is available.

Cess

In addition to the above income tax rates, health and education cess of 4% is charged on the income tax.

Surcharge

Surcharge rates are also applicable if income exceeds the threshold limit. The surcharge is applied to the total amount of tax.

Note: As per Budget 2023, in case of new tax regime surcharge on income exceeding Rs 5 crores will be limited to 25%

Benefits And Exemption For Women Taxpayers In India

Women can save their taxes by claiming certain benefits and tax rebates provided in the Act. Income tax exemptions and benefits available to women taxpayers are enumerated below.

However, if a woman taxpayer opts for the new tax regime these deductions need to be foregone.

Some other benefits allowed to salaried women employed -

• Standard deduction of Rs. 50,000
• House Rent Allowance
• Leave Travel Concession
• Deduction on interest on home loan up to Rs. 2 lakhs 

Except standard deduction ,the aforesaid benefits are available if you opt for the old regime. 

Conclusion 

In summary, the Indian government offers various benefits and reliefs to empower women, but there are no specific deductions or advantages exclusively for women under the Income-tax Act,1961 since the introduction of a common tax slab for both genders in 2012-13. However, women taxpayers need to be aware of the tax slabs applicable, tax exemptions, and deductions when planning finance.