Budget 2026 kept personal income tax rates unchanged. Under new regime, income up to ₹12 lakh is tax-free, followed by 15% for ₹12–16 lakh, 20% for ₹16–20 lakh, 25% for ₹20–24 lakh and 30% above ₹24 lakh. Under old regime, tax is 0% up to ₹2.5 lakh, 5% for ₹2.5–5 lakh, 20% for ₹5–10 lakh and 30% above ₹10 lakh.