Amendment of section 115BAC
Amendment of section 115BAC.
25. In section 115BAC of the Income-tax Act, in sub-section (1A), with effect from the 1st April, 2026,—
| (a) | in clause (ii), the words "or after" shall be omitted; | |
| (b) | after clause (ii), the following clause shall be inserted, namely:— | |
| "(iii) for any previous year relevant to the assessment year beginning on or after the 1st April, 2026, shall be computed at the rate of tax given in the following Table, namely:— |
Table
| Sl. No. | Total income | Rate of tax |
| (1) | (2) | (3) |
| 1. | Upto Rs. 4,00,000 | Nil |
| 2. | From Rs. 4,00,001 to Rs. 8,00,000 | 5 per cent |
| 3. | From Rs. 8,00,001 to Rs. 12,00,000 | 10 per cent |
| 4. | From Rs. 12,00,001 to Rs. 16,00,000 | 15 per cent |
| 5. | From Rs. 16,00,001 to Rs. 20,00,000 | 20 per cent |
| 6. | From Rs. 20,00,001 to Rs. 24,00,000 | 25 per cent |
| 7. | Above Rs. 24,00,000 | 30 per cent". |