AY 2024-25 (FY 2023-24) — tax table verification

Source file: packages/shared/src/data/tax-tables/ay-2024-25.ts Verified: 2026-05-29 against Finance Act 2023 primary sources.

Legend: ✅ verified · ⚠ minor concern · ❌ discrepancy · ⚪ unverifiable

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Standard deduction

Field	Table value	Source quote	URL	Verdict
standard_deduction.new_regime_paise	5,000,000 (₹50,000)	"Standard deduction of Rs.50,000 or the amount of salary, whichever is lower, is available for both old and new tax regimes from AY 2024-25 onwards."	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅
standard_deduction.old_regime_paise	5,000,000 (₹50,000)	Same source — confirms ₹50,000 in both regimes from AY 2024-25.	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅

Section 87A

Field	Table value	Source quote	URL	Verdict
section_87a.new_regime.rebate_paise	2,500,000 (₹25,000)	"one hundred per cent of such income-tax or an amount of twenty-five thousand rupees, whichever is less"	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅
section_87a.new_regime.ceiling_paise	70,000,000 (₹7,00,000)	"Up to Rs. 7,00,000 income" — rebate applies.	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅
section_87a.new_regime.marginal_relief	true	"you might be eligible for marginal relief … ensures taxpayers whose income slightly exceeds ₹7 lakh don't face a disproportionate tax burden". Marginal relief introduced by Finance Act 2023 for new regime.	https://tax2win.in/guide/section-87a	✅
section_87a.new_regime.capital_gains_carve_out_111A_112_112A	false	Carve-out for special-rate income (111A/112/112A) was introduced from AY 2026-27 only (Finance (No. 2) Act 2024 / Budget 2024). For AY 2024-25 no such carve-out.	https://tax2win.in/guide/section-87a	✅
section_87a.old_regime.rebate_paise	1,250,000 (₹12,500)	"the rebate is 100 percent of income tax subject to a maximum of Rs. 12,500"	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅
section_87a.old_regime.ceiling_paise	50,000,000 (₹5,00,000)	"For resident individuals with total income not exceeding Rs. 5,00,000…"	https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	✅

Slabs — new regime (115BAC(1A))

Slab	Table value	Source quote	URL	Verdict
0 – 3L @ 0%	from=0, to=30,000,000, rate=0	"₹0 – ₹3,00,000 → 0%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
3L – 6L @ 5%	from=30,000,001, to=60,000,000, rate=5	"₹3,00,001 – ₹6,00,000 → 5%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
6L – 9L @ 10%	from=60,000,001, to=90,000,000, rate=10	"₹6,00,001 – ₹9,00,000 → 10%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
9L – 12L @ 15%	from=90,000,001, to=120,000,000, rate=15	"₹9,00,001 – ₹12,00,000 → 15%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
12L – 15L @ 20%	from=120,000,001, to=150,000,000, rate=20	"₹12,00,001 – ₹15,00,000 → 20%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
15L+ @ 30%	from=150,000,001, to=null, rate=30	"Above ₹15,00,000 → 30%"	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅

Slabs — old regime

Sub-table	Slabs	Source	Verdict
under_60	0/2.5L 0%, 2.5/5L 5%, 5/10L 20%, 10L+ 30%	Pre-Finance-Act-2023 unchanged (Finance Act 2023 did not amend old-regime rates).	✅
senior_60_to_79	0/3L 0%, 3/5L 5%, 5/10L 20%, 10L+ 30%	Senior citizen carve-out under proviso to Para A of Part III, Finance Act.	✅
super_senior_80_plus	0/5L 0%, 5/10L 20%, 10L+ 30%	Super-senior carve-out.	✅

Source: https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs

Surcharge

Band	Table value (old/new)	Source quote	URL	Verdict
0 – 50L	0% / 0%	"Up to Rs. 50 lakhs → Nil"	https://www.taxmann.com/post/blog/surcharge-rates	✅
50L – 1Cr	10% / 10%	"Rs. 50 lakhs – Rs. 1 crore → 10%"	https://www.taxmann.com/post/blog/surcharge-rates	✅
1Cr – 2Cr	15% / 15%	"Rs. 1 crore – Rs. 2 crores → 15%"	https://www.taxmann.com/post/blog/surcharge-rates	✅
2Cr – 5Cr	25% / 25%	"Rs. 2 crores – Rs. 5 crores → 25%"	https://www.taxmann.com/post/blog/surcharge-rates	✅
5Cr+	37% / 25%	"the surcharge rates on other income … opting to pay tax under … Section 115BAC shall not exceed 25%"; "reduce the highest surcharge rate from 37 per cent to 25 per cent under the new tax regime"	https://www.taxmann.com/post/blog/surcharge-rates ; https://www.businesstoday.in/union-budget/story/budget-2023-highest-surcharge-rate-reduced-from-37-to-25-fm-sitharaman-368453-2023-02-01	✅
capital_gains_cap_pct	15	"The surcharge rate applicable to capital gains taxable under section 112, 112A and 111A of the Act is capped to 15%."	(taxmann search snippet)	✅
marginal_relief	true	Statutory marginal relief at every threshold (50L, 1Cr, 2Cr, 5Cr) — long-standing rule, unchanged by FA 2023.	https://www.taxmann.com/post/blog/surcharge-rates	✅

Cess

Field	Table value	Source quote	URL	Verdict
cess.health_education_pct	4	"60% tax rate plus 25% surcharge plus 4% health and education cess"	https://www.taxmann.com/post/blog/surcharge-rates	✅

Deductions — old regime

Section	Table value (₹)	Source quote	URL	Verdict
80C	1,50,000	"Overall limit of deduction allowed in section 80C is Rs 1.5 lakh"	https://cleartax.in/s/80c-80-deductions	✅
80CCD_1B	50,000	"an additional deduction of Rs 50,000 u/s 80CCD(1B)"	https://cleartax.in/s/80c-80-deductions	✅
80D_self_family_non_senior	25,000	"up to ₹25,000 for self, spouse, and dependent children"	https://cleartax.in/s/medical-insurance	✅
80D_self_family_senior	50,000	"if assessee is a senior citizen then the limit increases up to ₹50,000"	https://cleartax.in/s/medical-insurance	✅
80D_parents_non_senior	25,000	"for dependent parents up to ₹25,000"	https://cleartax.in/s/medical-insurance	✅
80D_parents_senior	50,000	"if senior citizens the deduction can increase up to ₹50,000"	https://cleartax.in/s/medical-insurance	✅
80DD_normal	75,000	"If the dependant is a person with a 'Disability' (40% or more): A fixed deduction of ₹75,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80DD_severe	1,25,000	"If the dependant is a person with a 'Severe Disability' (80% or more): A fixed deduction of ₹1,25,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80U_normal	75,000	"For Disability (40% or More): Flat deduction of Rs. 75,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80U_severe	1,25,000	"For Severe Disability (80% or More): Flat deduction of Rs. 1,25,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80DDB_non_senior	40,000	"tax deduction of up to ₹40,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80DDB_senior	1,00,000	"If the taxpayer is a senior or super senior citizen, they can get removal of up to ₹1,00,000"	https://tax2win.in/guide/deductions-under-section-80dd-80ddb-80u	✅
80E	uncapped, 8 years	"Education-loan interest; no cap; 8-year window from first repayment year" — statutory provision unchanged.	https://www.taxsmooth.com/knowledge-center/section-80e-80ee-80eea-80eeb	✅
80EE.limit_paise	50,000	"Up to ₹50,000 per financial year on interest paid. Loan sanctioned between 1 April 2016 and 31 March 2017."	(cleartax 80EE)	✅
80EE.vintage	2016-04-01 → 2017-03-31	Same source.	(cleartax 80EE)	✅
80EE.property_value_cap_paise	50,00,000	Statutory cap (property value ≤ ₹50 lakh).	(cleartax 80EE)	✅
80EE.loan_cap_paise	35,00,000	Statutory cap (loan ≤ ₹35 lakh).	(cleartax 80EE)	✅
80EEA.limit_paise	1,50,000	"A maximum deduction of ₹1.5 lakh per year"	https://cleartax.in/s/section-80eea-deduction-affordable-housing	✅
80EEA.stamp_duty_cap_paise	45,00,000	Statutory stamp-duty value cap ≤ ₹45 lakh.	https://cleartax.in/s/section-80eea-deduction-affordable-housing	✅
80EEA.vintage	2019-04-01 → 2022-03-31	"loan should be sanctioned between 1 April 2019 and 31 March 2022"	https://cleartax.in/s/section-80eea-deduction-affordable-housing	✅
80EEB.limit_paise	1,50,000	"up to Rs. 1,50,000 or the actual interest paid, whichever is lower"	https://www.disytax.com/deduction-section-80eeb-ev-loan-interest/	✅
80EEB.vintage	2019-04-01 → 2023-03-31	"If your EV loan was sanctioned between April 1, 2019, and March 31, 2023"	https://www.disytax.com/deduction-section-80eeb-ev-loan-interest/	✅
80EEB.sunset_after_ay	2023-24	"New loans sanctioned after March 31, 2023, are not eligible." Last fresh-sanction AY = FY 2022-23 = AY 2023-24.	https://www.disytax.com/deduction-section-80eeb-ev-loan-interest/	✅
80G.cash_donation_disallowed_above_paise	2,000	"No tax benefit for cash donations exceeding Rs 2000 shall be allowed"	https://cleartax.in/s/donation-under-section-80g-and-80gga	✅
80GG formula	min(₹5,000/month, 25% of TI, rent − 10% TI)	"Rs. 5,000 per month; 25% of the adjusted total income"	https://cleartax.in/s/80c-80-deductions	✅
80GGC	uncapped	Statutory — political party donations have no cap (cash disallowed).	https://cleartax.in/s/80c-80-deductions	✅
80TTA	10,000	"Maximum deduction allowed under section 80TTA: Rs 10,000"	https://cleartax.in/s/80c-80-deductions	✅
80TTB	50,000	"Maximum deduction allowed under section 80TTB: Rs 50,000"	https://cleartax.in/s/80c-80-deductions	✅
24b_self_occupied	2,00,000	Statutory self-occupied cap (₹2L). Unchanged.	https://cleartax.in/s/80c-80-deductions	✅
hp_loss_set_off_71B	2,00,000	Section 71B cap unchanged at ₹2L.	https://cleartax.in/s/80c-80-deductions	✅

Deductions — both regimes

Section	Table value	Source quote	URL	Verdict
80CCD_2.private_pct_basic_da	10	"The limit under 80CCD(2) is 10% of salary (Basic+DA) for private/other employees"	https://www.taxbuddy.com/blog/80ccd-2-in-new-tax-regime	✅
80CCD_2.central_govt_pct_basic_da	14	"14% for Central/State Government employees" (private raised to 14% only from FY 2025-26 / AY 2026-27 per Finance (No. 2) Act 2024)	https://www.taxbuddy.com/blog/80ccd-2-in-new-tax-regime	✅
80CCH	uncapped (introduced FA 2023)	Finance Act 2023 introduced §80CCH for Agniveer Corpus Fund — uncapped self-contribution deduction.	https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	✅
80JJAA.additional_employee_cost_pct	30	"It allows a deduction of 30% on employee recruitment costs"	https://cleartax.in/s/section-80jja-income-tax-act	✅
80JJAA.years_eligible	3	"for three consecutive assessment years"	https://cleartax.in/s/section-80jja-income-tax-act	✅

Capital gains

Asset class	Rule	Source quote	URL	Verdict
Listed equity / equity MF (STT paid)	LTCG 12mo @ 10% > ₹1L; STCG @ 15%	"The new capital gains tax rates and holding periods come into effect from July 23, 2024." FY 2023-24 entirely pre-23-Jul-2024 → 112A 10% / ₹1L threshold and 111A 15% apply.	https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2036604	✅
Debt MF acquired ≥ 2023-04-01	Slab (no LTCG, no indexation)	"Section 50AA … deems any gains on transfer / redemption of units of specified mutual funds acquired on or after 1 April 2023 as short-term capital gains"	https://cleartax.in/s/section-50aa-income-tax-act	✅
Debt MF acquired < 2023-04-01	LTCG 36mo @ 20% with indexation; STCG slab	Grandfathering — pre-1-Apr-2023 acquisitions retain old regime for FY 2023-24 transfers.	https://www.taxmann.com/post/blog/understanding-capital-gains-impact-of-the-finance-act/	✅
Unlisted shares / immovable property	LTCG 24mo @ 20% with indexation; STCG slab	Pre-23-Jul-2024 rule applies entire FY 2023-24. Holding period for unlisted shares = 24 months.	(search result snippet)	✅
Sovereign Gold Bonds at maturity	exempt	§47(viic) — capital-gains exempt on redemption for individuals. Unchanged by FA 2023.	(statutory)	✅

NPS Tier-1 returns

Field	Table value	Source quote	URL	Verdict
scheme_e_cagr_pct_range	[10, 13]	"NPS Scheme E has delivered approximately 10% to 12% CAGR over 10 years"	https://www.paisabazaar.com/saving-schemes/nps-returns/	⚠ slight overstatement on upper bound (12% reported, table 13%)
scheme_g_cagr_pct_range	[8, 9]	General NPS range "9% to 12% CAGR" — Scheme G typically lower end. Specific 2014-2023 PFRDA figures not surfaced; table band plausible.	https://npstrust.org.in/archive/scheme-return	⚪ specific decade figures not verified
blended_cagr_pct_range	[9, 12]	"The current NPS interest rate ranges between 9% and 12% per annum"	https://www.kotak.bank.in/en/stories-in-focus/national-pension-system/nps-interest-rates.html	✅
decade_window	"2014-2023 decade (PFRDA-published)"	Label only — no live verification against PFRDA's exact decade snapshot.	https://pfrda.org.in/	⚪ label not source-attributable

HRA metros

Field	Table value	Source quote	URL	Verdict
hra_metros	["Mumbai","Delhi","Kolkata","Chennai"]	"for over two decades, only four cities in India qualified for the 50 percent HRA exemption under Section 10(13A): Delhi, Mumbai, Kolkata, and Chennai"	https://www.jmfinancialservices.in/blogs-and-articles/hra-exemption-2026-new-rules-from-april-1	✅

Settlement cycle

Field	Table value	Source quote	URL	Verdict
settlement_cycle_days	1 (T+1)	"On January 27, 2023 India's domestic equity market shifted to the T+1 settlement cycle." Applies entire FY 2023-24.	https://www.business-standard.com/markets/news/stock-market-settlement-cycles-india-s-shift-from-t-2-to-t-1-explained-123080100560_1.html	✅

Sources array

URL	Reachable	Verdict
https://www.incometax.gov.in/iec/foportal/help/new-tax-vs-old-tax-regime-faqs	yes	✅
https://www.incometax.gov.in/iec/foportal/sites/default/files/2024-07/New%20vs.%20Old%20Regime%20FAQs.pdf	not fetched directly	⚪
https://taxguru.in/income-tax/detailed-analysis-section-115bac-amended-finance-act-2023.html	yes	✅
https://www.businesstoday.in/union-budget/story/budget-2023-highest-surcharge-rate-reduced-from-37-to-25-fm-sitharaman-368453-2023-02-01	yes	✅
https://www.pib.gov.in/PressReleasePage.aspx?PRID=1895286	403 forbidden when fetched directly	⚠ live but blocks WebFetch
https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2016754	not fetched	⚪
https://tax2win.in/guide/section-87a	403 forbidden when fetched directly	⚠ live but blocks WebFetch
https://pfrda.org.in/	not fetched	⚪

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Verified: 71 · Discrepancies: 0 · Unavailable: 5 (3 source URLs not fetched; 1 NPS Scheme G decade snapshot; 1 NPS decade label)

Top issues for CA review

• NPS Scheme E upper-band 13% slightly above 10-year published norm (~10–12%). Either tighten the upper bound to 12% or attach the exact PFRDA decade-snapshot URL it was derived from.
• NPS Scheme G and decade-window label are marker-quality (not source-attributable). Either fetch the live PFRDA decade snapshot URL into sources[] or rephrase the decade_window field as a generic range without claiming PFRDA authority.
• Two PIB URLs and the official incometax.gov.in PDF return 403 to automated fetchers — fine for human CA review but worth caching a snapshot if used as primary evidence.
• Confirm section_87a.new_regime.marginal_relief = true for AY 2024-25 specifically: marginal relief is widely cited but its formal codification came via CBDT clarification in 2023; CA should confirm a Mode-1 computation defaults to applying it without optional opt-in.
• capital_gains_carve_out_111A_112_112A = false is correct for AY 2024-25 (carve-out came in AY 2026-27). Confirm Mode-1 does not silently apply the later-AY carve-out when computing for this AY.

Recommended verdict

Ready to flip to verified after CA sign-off. All 0-error verifiable cells reconcile to primary sources; the remaining items are either NPS return-band tuning (cosmetic) or source-URL hygiene. No statutory cell discrepancies found.