New Financial Year 2025. Each slab has a specific tax rate applied to the income that falls within its range. Income tax slabs are the categories of income levels that determine the rate at which income tax is charged for the applicable financial year (fy) and assessment year (ay).
In india, income tax is calculated using income tax slabs and rates for the applicable financial year (fy) and assessment year (ay). Each slab has a specific tax rate applied to the income that falls within its range.