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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.
Table of Content
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 |
|
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 |
|
|
Section 80DD |
Medical treatment for differently-abled dependent |
|
Section 80DDB |
Medical treatment for specified diseases |
|
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 |
|
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. |
|
Section 80GG |
Those who are self employed or do not get any HRA as part of their salary. |
|
Section 80GGA |
Expenses or donations made to scientific research or rural development. |
|
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.
