No—not across both regimes. In her Union Budget 2024-25 speech on 23 July 2024, Finance Minister Nirmala Sitharaman left the old-regime slabs unchanged but announced revised tax rates for taxpayers opting for the new regime. The Budget also proposed higher deductions for certain people using the new regime. These are historical 2024 proposals, not a statement of the rates or rules in force in 2026.
Which income tax slabs changed in Budget 2024?
The old tax regime’s slabs remained unchanged in the Budget 2024-25 proposals. The new tax regime’s rate structure changed. So the claim that “income tax slabs remain unchanged” is accurate only if it refers specifically to the old regime.
The new-regime rates announced in the Budget speech were:
| Total income band | Proposed new-regime rate |
|---|---|
| Up to ₹3 lakh | Nil |
| Above ₹3 lakh to ₹7 lakh | 5% |
| Above ₹7 lakh to ₹10 lakh | 10% |
| Above ₹10 lakh to ₹12 lakh | 15% |
| Above ₹12 lakh to ₹15 lakh | 20% |
| Above ₹15 lakh | 30% |
These bands describe the new-regime proposal announced in July 2024, not a current 2026 tax table. The Finance Ministry’s Budget 2024-25 speech sets out the proposed changes.
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What deductions did Budget 2024 propose to raise?
The proposals also increased two deductions under the new regime:
- Standard deduction for salaried employees: proposed to rise from ₹50,000 to ₹75,000.
- Family-pension deduction: proposed to rise from ₹15,000 to ₹25,000.
These changes were specific to the new regime; they should not be read as applying to every taxpayer or as changes to deductions in both regimes. The Ministry of Finance summarizes the proposals in its Budget 2024-25 press release.
Was the promised tax saving of up to ₹17,500 guaranteed?
No. Sitharaman said in the July 2024 Budget speech that, “As a result of these changes, a salaried employee in the new tax regime stands to save up to ₹ 17,500/- in income tax.” That was the government’s estimate of a possible annual saving, not a guaranteed amount for every salaried employee. A person’s result depends on their income and circumstances.
How should you compare the old and new regimes?
Neither regime is automatically better for everyone. Rates differ, as do the deductions and exemptions available. Compare your liability under each regime using your own income and eligible deductions, and check whether you are eligible to opt out of the default regime. The Income Tax Department’s regime FAQ explains the distinction and directs taxpayers to its income-tax calculator.
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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →The department says the new regime was the default for covered taxpayers from assessment year 2024-25, while eligible taxpayers could opt for the old regime. That is year-specific guidance; check the rules for the relevant assessment year before filing or relying on historical details.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Budget 2024 does—and does not—tell you
Budget 2024 records a historical change: the old-regime slabs stayed the same while the proposed new-regime rates and certain deductions changed. It does not establish the applicable slab table or filing rules for 2026. For a current tax decision, use the provisions and calculator for the relevant tax year rather than carrying forward the 2024 figures.
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