Although the Income Tax Act previously offered concessional tax slab rates for women, there are currently no separate or reduced tax rates based on gender. This article outlines the applicable income tax slab rates for women for the current financial year and assessment year.
Income Tax Slab for Women for FY 2024-25: Tax Limits and Exemptions
Income Tax Slabs
Income Tax Slabs under the New Regime
The revised tax slabs for FY 2025-26 (AY 2026-27) under the new tax regime are as follows:
| Annual Income | Income Tax Rate |
|---|---|
| Up to Rs. 4 lakhs | NIL |
| Rs. 4 lakhs – Rs. 8 lakhs | 5% |
| Rs. 8 lakhs – Rs. 12 lakhs | 10% |
| Rs. 12 lakhs – Rs. 16 lakhs | 15% |
| Rs. 16 lakhs – Rs. 20 lakhs | 20% |
| Rs. 20 lakhs – Rs. 24 lakhs | 25% |
| Above Rs. 24 lakhs | 30% |
For FY 2024-25 (AY 2025-26), the income tax slabs under the new regime are as follows:
| Income Tax Slabs | Tax Rates |
|---|---|
| Up to Rs. 3 lakhs | NIL |
| Rs. 3 lakhs – Rs. 7 lakhs | 5% |
| Rs. 7 lakhs – Rs. 10 lakhs | 10% |
| Rs. 10 lakhs – Rs. 12 lakhs | 15% |
| Rs. 12 lakhs – Rs. 15 lakhs | 20% |
| Above Rs. 15 lakhs | 30% |
Income Tax Slabs under the Old Regime
In India, under the old tax regime, income tax slabs and rates vary based on the age and income of the taxpayer. The Income Tax Act categorizes individuals into the following groups for tax purposes:
Individuals: Residents under 60 years of age and Non-Residents
Senior Citizens: Individuals aged 60 years or above but below 80 years
Super Senior Citizens: Individuals aged 80 years or above
Income Tax Slab for Women Below 60 Years of Age and Non-Resident Women for FY 2024-25
Income Slab Income Tax Rate Up to Rs. 2.5 lakh Nil Rs. 2.5 lakh to Rs. 5 lakh 5% Rs. 5 lakh to Rs. 10 lakh 20% Above Rs. 10 lakh 30% Income Tax Slab for Senior Citizen Women (Above 60 Years but Below 80 Years) for FY 2024-25
Income Slab Income Tax Rate Up to Rs. 3 lakh Nil Rs. 3 lakh to Rs. 5 lakh 5% Rs. 5 lakh to Rs. 10 lakh 20% Above Rs. 10 lakh 30% Income Tax Slab for Super Senior Citizen Women (Above 80 Years of Age) for FY 2024-25
Income Slab Income Tax Rate Up to Rs. 5 lakh 5% Rs. 5 lakh to Rs. 10 lakh 20% Above Rs. 10 lakh 30% Rebate
Under the new tax regime, women with an income up to Rs. 7 lakhs can avail a tax rebate of up to Rs. 25,000.
Under the old tax regime, women with an income up to Rs. 5 lakhs can avail a tax rebate of up to Rs. 12,500.
Cess
In addition to the above tax rates, a Health and Education Cess of 4% is applicable on the income tax.
Surcharge
Surcharge is levied on the total tax payable when income exceeds the following thresholds:
Total Income
Surcharge Rate
> Rs. 50 Lakhs
10%
> Rs. 1 crore
15%
> Rs. 2 crores
25%
> Rs. 5 crores
37% (Note: 25% in the new tax regime as per Budget 2023)
Benefits and Exemptions for Women Taxpayers in India
Women taxpayers in India can reduce their overall tax liability by claiming a variety of deductions and exemptions provided under the Income Tax Act. Below are the key provisions that can be utilized:
Section-wise Deductions and Eligible Limits
| Section | Eligible Investment/Expense | Deduction Limit |
|---|---|---|
| 80C | NSC, PPF, life insurance premiums, home loan principal repayment, tuition fees, Sukanya Samriddhi Yojana, Senior Citizens’ Savings Scheme | Up to ₹1.5 lakhs |
| 80CCC | Contribution to pension funds | Included in ₹1.5 lakh under Section 80C |
| 80CCD(1) | Employee’s contribution to NPS | Included in ₹1.5 lakh under Section 80C |
| 80CCD(1B) | Additional NPS contribution | Up to ₹50,000 |
| 80D | Health insurance premiums | ₹25,000 (self, spouse, children); ₹50,000 (senior citizens); ₹5,000 (preventive check-up) |
| 80DD | Medical treatment for disabled dependents | ₹75,000 (general disability); ₹1.25 lakhs (severe) |
| 80DDB | Medical treatment of specified diseases | ₹40,000; ₹1 lakh for senior citizens |
| 80E | Interest on education loan | Full interest amount (no upper limit) |
| 80EEA | Interest on housing loan (affordable homes) | Up to ₹1.5 lakhs |
| 80EEB | Interest on electric vehicle loan | Up to ₹1.5 lakhs |
| 80G | Donations to approved charities | 50% or 100% of donation (based on eligibility) |
| 80GG | House rent (if HRA not received) | Least of ₹5,000/month, rent paid – 10% of total income, or 25% of total income |
| 80GGC | Donations to political parties or electoral trusts | Full amount donated |
| 80TTA | Interest on savings account (for women below 60) | Up to ₹10,000 |
| 80TTB | Interest from bank/post office deposits (for senior citizens) | Up to ₹50,000 |
Note: These deductions are available only under the old tax regime. Taxpayers opting for the new regime must forgo these exemptions (except employer contribution to NPS under 80CCD(2)).
Additional Benefits for Salaried Women (Old Regime)
Standard Deduction: ₹50,000 (also available in the new regime)
House Rent Allowance (HRA): As per actuals and limits
Leave Travel Allowance (LTA): For travel expenses within India
Home Loan Interest Deduction: Up to ₹2 lakhs under Section 24(b)
These benefits can significantly reduce taxable income if claimed properly under the old tax regime.
