What Are The Current Tax Slabs?
and which one to choose
Thursday’s here! So, let’s talk money, markets, and moonshots.
Tata Motors is down, Bajaj Finance is up, and Bharat just greenlit ₹10,000 crore for an indigenous rocket project.
Meanwhile, tax season is creeping in, and everyone’s wondering: stick to the classic old tax regime or switch to the simplified new one? We’ve got the numbers to help you decide.
Let’s get into it!
📌 Top Headlines of the Day
Tata Motors stock drops 8% after Q3 earnings release
Bajaj Finance shares surge over 4%
Bharat approves ₹10,000 crore for 'Made in India' rocket plan
Current tax slabs (FY 2024-25)
With Budget 2025 just around the corner, everyone’s buzzing about possible tax tweaks.
Will the basic exemption limit jump to ₹10 lakh?
Will a new 25% tax slab be introduced under the simplified regime?
We’ll find out soon, but for now, let’s break down the current tax slabs and which regime might work best for you.
New Tax Regime: Simpler, but is it Better?
The government has been nudging taxpayers toward this regime since 2020, and it’s getting sweeter by the year. Here’s how the slabs look:
Up to ₹3 lakh – No tax
₹3-6 lakh – 5%
₹6-9 lakh – 10%
₹9-12 lakh – 15%
₹12-15 lakh – 20%
Above ₹15 lakh – 30%
Fewer deductions and lower tax rates—great if you hate paperwork! But does it actually save you money? That depends.
Old Tax Regime: The Classic Choice with Perks
This one’s for deduction lovers. If you maximize tax benefits under sections like 80C (investments), 80D (health insurance), or claim HRA, you might still prefer this. Here’s the tax breakdown:
Up to ₹2.5 lakh – No tax
₹2.5-5 lakh – 5%
₹5-10 lakh – 20%
Above ₹10 lakh – 30%
So, which one works best?
Go for the new regime if you don’t claim many deductions and want a hassle-free approach.
Stick with the old regime if you claim multiple exemptions—especially HRA or home loan interest.
For example, if you earn ₹15 lakh and claim deductions worth ₹4.5 lakh, plus the standard deduction of ₹50,000, you’ll actually pay less tax under the old regime.
And if you add an HRA exemption of ₹12 lakh? Your tax savings skyrocket!
😎 Startup Hero
This fashion search engine just raised $1 million
AI-powered fashion search engine Shoppin’ just scored $1 million in pre-seed funding from Info Edge Ventures, and they’re on a mission to change how we discover fashion.
Imagine if OpenAI’s AI smarts, Google’s search magic, and Pinterest’s style inspiration had a fashion-obsessed baby.
That’s how Founder & CEO Shlok Bhartiya describes shoppin’. Instead of scrolling endlessly, users can find outfits based on prompts, vibes, product descriptions, or even images, making shopping effortless and fun.
In just three weeks (with zero marketing spend!), shoppin’ pulled in 35,000 Instagram followers and over 20,000 waitlist sign-ups.
Now, with fresh funding, they’re hiring AI engineers, refining their tech, and prepping for a beta launch in February.
The goal?
Bridge the gap between social media fashion inspo and actual shopping. With Gen-Z spending 75% of their fashion discovery time on Instagram and Pinterest, shoppin’ wants to make fashion as easy as snapping a pic.
So, that’s it for today. If you enjoyed this edition, subscribe to hear from us every day!
See ya 👋
