Under the Income-tax Act, 2025, rates of income tax under the new tax regime for individuals include:…
Under the new tax regime, the default regime for individuals under the Income-tax Act, 2025 (formerly section 115BAC of the Income-tax Act, 1961), income above the nil slab…
Choose your answer
Under the Income-tax Act, 2025, rates of income tax under the new tax regime for individuals include:
(a) 5%
(b) 10%
(c) 12%
(d) 15%
(e) 20%
Answer and explanation
Correct answer C
Under the new tax regime, the default regime for individuals under the Income-tax Act, 2025 (formerly section 115BAC of the Income-tax Act, 1961), income above the nil slab is taxed at slab rates of 5%, 10%, 15%, 20%, 25% and 30%. There is no 12% slab, so of the listed rates 5% (a), 10% (b), 15% (d) and 20% (e) apply: a, b, d, e only.
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UGC NET Commerce