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Income Tax Slabs for Women

Income tax slabs for women designed to provide specific tax* rate structures catering to the financial circumstances of female taxpayers. These slabs often take into account income levels, age, and other factors, ensuring equitable taxation to women.

Women's equal participation in the workforce has contributed to the nation's economy. Since more and more women are becoming financially independent and breaking free from societal norms, understanding the nuances of income tax* regulations for women has become necessary.
 

The income tax slab for women is the same as for men in India. However, to support the women taxpayers in India, the government has taken various measures. One such benefit is a higher basic exemption limit while income tax e-filing.

Other than this, there are various tax exemptions for women taxpayers under the Income Tax Act 1961. In this blog, we will learn all about the income tax slab for women in India.

Understanding the Income Tax Slab for Women

Earlier, there used to be different income tax slab rates for women, offering them higher tax exemptions than men. But from 2012-13, the income tax slab for women and men is the same.
 

The income tax slab in India depends on crucial factors such as income and age of the taxpayer. Taxpayers are classified into three categories for income tax purposes.
 

  • Individuals who are below 60 years of age
  • Individuals between 60 to 80 years of age ( Senior citizens)
  • Individuals who are over 80 years of age ( Super Senior citizens)

Different Income Tax Slab Rate for Women - New and Old Tax Regime

The new tax regime was proposed in Union Budget 2023, the default income tax regime. Let us understand the different income tax slab rates for women in detail for the new and old tax regimes.
 

Income Tax Slab for Women Below 60 Years of Age Under New Tax Regime

Here is the detailed report of current income tax slabs for women in the financial year 2023-2024 as per the new tax regime.
 

Income Tax Slab

Income Tax Rate

0 to ₹3,00,000

Nil

₹3,00,001 to ₹6,00,000

5% of income exceeding the ₹300,000 amount.

₹6,00,001 to ₹9,00,000

10% of income that exceeds ₹6,00,000 + ₹15,000

₹9,00,001 to ₹12,00,000

15% of income that exceeds ₹9,00,000 + ₹45,000

₹12,00,001 to ₹15,00,000

20% of income that exceeds ₹12,00,000 + ₹90,000

Over ₹15,00,000

30% of income that exceeds ₹15,00,000 + ₹1,50,000

 

Income Tax Slab for Women Below 60 Years of Age Under Old Tax Regime

Below is the income tax slab for women below 60 per the old tax regime.
 

Income Tax Slabs

Income Tax Rate

0 to ₹2,50,000

Nil

₹2,50,000 to ₹5,00,000

5% of income exceeding the ₹2,50,000 amount

₹5,00,000 to ₹7,00,000

10% of income that exceeds ₹5,00,000 + ₹12,500

₹7,50,000 to ₹10,00,000

15% of income that exceeds ₹7,50,000 + ₹37,500

₹10,00,000 to ₹12,50,000

20% of income that exceeds ₹10,00,000 + ₹75,000

₹12,50,000 to ₹15,00,000

25% of income that exceeds ₹12,50,000 + ₹1,25,000

Over ₹15,00,000

30% of income that exceeds ₹15,00,000 + ₹1,87,500

 

Income Tax Slab for Senior Citizen Women Under New Tax Regime

This is the income tax slab rate for women over 60 but below 80 years of age and classified as senior citizens per the new tax regime.
 

Income Tax Slab

Income Tax Rate

0 to ₹3,00,000

Nil

₹3,00,001 to ₹6,00,000

5% of income exceeding the ₹300,000 amount.

₹6,00,001 to ₹9,00,000

10% of income that exceeds ₹6,00,000 + ₹15000

₹9,00,001 to ₹12,00,000

15% of income that exceeds ₹9,00,000 + ₹45000

₹12,00,001 to ₹15,00,000

20% of income that exceeds ₹12,00,000 + ₹90,000

Over ₹15,00,000

30% of income that exceeds ₹15,00,000 + ₹1,50,000

 

Income Tax Slab for Senior Citizen Women Under Old Tax Regime

Under the old tax regime, the income tax slab rate for women over 60 years of age and below 80 years of age are listed below:
 

Income Tax Slabs

Income Tax Rate

0 to ₹3,00,000

Nil

₹3,00,001 to ₹5,00,000

5% of income exceeding the ₹3,00,000 amount.

₹5,00,001 to ₹10,00,000

20% of income that exceeds ₹5,00,000 +

₹10,000

Over ₹10,00,000

30% of total income exceeds ₹10,00,000 + ₹1,10,000

 

Income Tax Slab for Super Senior Citizen Women Under New Tax Regime

Women who are over 80 years of age fall under the super senior citizen category; the income tax slab rate for women of this age group under the new tax regime is listed below:
 

Income Tax Slab

Income Tax Rate

0 to ₹3,00,000

Nil

₹3,00,001 to ₹6,00,000

5% of income exceeding the ₹3,00,000 amount.

₹6,00,001 to ₹9,00,000

10% of income that exceeds ₹6,00,000 + ₹15,000

₹9,00,001 to ₹12,00,000

15% of income that exceeds ₹9,00,000 + ₹45,000

₹12,00,001 to ₹15,00,000

20% of income that exceeds ₹12,00,000 + ₹90,000

Over ₹15,00,000

30% of income that exceeds ₹15,00,000 + ₹1,50,000

 

Income Tax Slab for Super Senior Citizen Women Under Old Tax Regime

The income tax slab rate for women over 80 years of age under the old income tax regime is:
 

Income Tax Slab

Income Tax Rate

O to ₹5,00,000

Nil

₹5,00,001 to ₹10,00,000

20% of income that exceeds ₹5,00,000

Over ₹10,00,001

30% of income that exceeds ₹10,00,00

Additional Surcharge Rate For Women Taxpayers - New and Old Tax Regime

Women taxpayers of India who earn over ₹50 lakh in a financial year need to pay the additional surcharge tax on top of their regular income slab. Let us look at the additional surcharge rate for women per the new and old tax regimes:
 

Taxable Income

New Tax Regime

Old Tax Regime

₹50 Lakh to ₹1 Crore

10%

10%

₹1 Crore to ₹2 Crore

15%

15%

₹2 Crore to ₹5 Crore

25%

25%

Over ₹5 Crore

25%

37%

Income Tax Rebate for Women

Women taxpayers can enjoy a full or complete tax rebate as per Section 87A in a decided income limit under the new and old tax regime. Let us glance at income tax rebates for women in different age groups.
 

Age

Tax Rebate Under Old Regime

Tax Rebate Under New Regime

0 to 60 Years

For an income of ₹5 lakhs or below, tax rebate up to ₹12,500 on calculated or decided tax.

 For an income of ₹7 lakh, tax rebate up to ₹25,000 on calculated or decided tax.

60 to 80 Years

Income up to ₹3 lakh

Income up to ₹3 lakh

Over 80 Years

Income up to ₹3 lakh

Income up to ₹5 lakh

Benefits And Exemption For Women Taxpayers In India

Women taxpayers in India can claim tax rebates and certain benefits as listed in the Income Tax Act. Below are some of the income tax benefits women can avail of in India:
 

Section of ITA

Expense or Investment

Deduction Limit

Section 80C

  • National Savings Certificate
  • Public Provident Fund
  • Life insurance premium
  • Repayment of housing loan
  • Tuition fees
  • Sukanya Samriddhi Scheme
  • Senior Citizen Saving Scheme

Deduction of ₹1,50,000 from taxable income

Section 80CCC

Contributions toward Pension Schemes or Annuity Plans

Section 80CCD (1)

Contribution made to Pension scheme offered by central government

Section 80CCD(1B)

Pension scheme offered by central government excluding the deduction of 80CCD (1)

₹50,000

Section 80D

  • Health insurance premium
  • Preventive health check-up
  • ₹25,000 for self or spouse or parents and dependents
  • ₹50,000 (for senior citizens)
  • ₹5,000 (for preventive health check-up)

Section 80DD

Medical treatment for differently-abled dependent

  • ₹75,000
  • ₹1,25,000 in case of severe disability

 

Section 80DDB

Medical treatment for specified diseases

  • ₹40,000 for self and dependents
  • ₹1,00,000 for senior citizens

Section 80TTA

Interest on Saving bank account received by senior citizen

₹10,000

Section 80 TTB

Interest on deposits made by resident senior citizen

₹50,000

Section 80U

Taxpayer with disability

  • ₹75,000
  • ₹1,25,000 if the person has a major or severe disability.

Section 80E

Interest payment of loan taken for higher studies.

Total interest amount

Section 80EE

Interest payment for a residential house property loan

₹50,000 on the interest amount

Section 80 EEA

Interest payment for a residential property loan which is sanctioned for the first time and not claimed under 80EE

₹1,50,000 on the interest amount

Section 80 EEB

Interest payment on electrical vehicle loan

₹1,50,000 on the interest amount

Section 80G

Expenses or donations made to listed funds, charities , etc.

  • 50% or 100% deduction
  • No deduction is allowed for a cash donation of more than ₹2000

Section 80GG

Those who are self employed or  do not get any HRA as part of their salary.

 

  • ₹5,000 per month
  • Rent amount minus 10% of total income
  • 25% of the total income

 

Section 80GGA

Expenses or donations made to scientific research or rural development.

  • Deduction on the donation amount
  • No deduction if a donation of over ₹2000 has been made in cash.

Section 80GGC

Expenses or donations made to political parties or electoral trusts.

Deduction on the donation amount.

 

Income Tax Exemptions for Women Allowed Under New Tax Regime

Under the new tax regime, there are various tax exemptions for women, such as:
 

  • Transport allowance for disabled persons.
  • Traveling compensation
  • Conveyance allowance
  • Leave encashment as per Section 10(10AA)
  • On gifts up to ₹5000
  • Extra employee cost under Section 80JJA

Conclusion

To empower and promote women taxpayers, the government of India has decided to align tax policies with gender equality. Since the inception of a common or uniform tax slab for men and women, there are no particular tax deductions and reliefs especially designed for women.

However, women taxpayers can still benefit from tax deductions under various sections of the Income Tax Act. Further, it is necessary to know the different income tax slabs for women before filing the tax. Also, it is necessary to do income tax e-filing on time to avoid penalties and fines.

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Tata AIA Life Insurance

A joint venture between Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA),  Tata AIA Life Insurance  is one of the leading life insurance providers in India. We post everything you need to know about life insurance, tax savings and a variety of lateral topics such as savings and investments in this space. You can access and read a host of different blogs, articles and pages at the Tata AIA Life Insurance Knowledge Center or get in touch with us with any queries or questions!

View all posts by Tata AIA Life Insurance

Frequently Asked Questions

What is the limit of income tax exemption for women?

Women earning up to ₹2,50,000 are exempted from tax under the old tax regime. However, for the new tax regime, the income should be below ₹3,00,000.

What is 80G in income tax?

This act of the Income Tax Act allows relief on tax deductions for a contribution or donation to charitable institutions or relief funds.

Are tax slabs different for women?

A uniform tax slab rate is applicable for both men and women. There is no particular tax slab for women taxpayers.

Disclaimers

  • Insurance cover is available under the product.
  • The products are underwritten by Tata AIA Life Insurance Company Ltd.
  • The plans are not guaranteed issuance plans, and they will be subject to the Company’s underwriting and acceptance.
  • For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
  • This blog is for information and illustrative purposes only and does not purport to any financial or investment services and does not offer or form part of any offer or recommendation. The information is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.
  • Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document issued by the insurance company.
  • Every effort is made to ensure that all information contained in this blog is accurate at the date of publication. However, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.
  • Tax: *Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implications mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.