Filing ITR for a salaried person is an important part of managing personal finances. Every year, the government updates income tax rules, and as a salaried employee, it’s helpful to understand these changes before filing your tax return. When you understand the new updates, you can easily calculate your tax and avoid making mistakes during tax filing.

For the financial year 2024-25, there have been some changes in the income tax slabs. Whether you are filing your ITR for the first time or have been doing it regularly, knowing these tax slabs will help you file your income tax return for a salaried employee correctly. Filing ITR is not just about paying taxes; it’s also about claiming the right deductions and legally saving money.

In this blog, we will explain the latest tax slabs, types of tax regimes, deductions, and everything else you need to know about ITR for a salaried person. We have written everything in simple words, so you don’t need to be a tax expert to understand it. Let’s begin.

What Are Income Tax Slabs?

Income tax slabs decide how much tax you need to pay based on your total yearly income. In India, the government follows a slab system, where your income is divided into parts and each part is taxed at a certain rate. It is designed to ensure that people earning higher incomes pay a higher percentage in taxes.

As a salaried employee, these slabs are the first thing you should check before filing your ITR for a salaried person. Understanding the slab rates makes it easier to calculate your total tax payable.

Two Types of Tax Regimes for Salaried Employees

While filing your income tax return for a salaried employee, you have the choice between two tax regimes: the new tax regime and the old tax regime. Both regimes have different tax rates and benefits. Choosing the right one can help you save money and simplify your tax filing process.

The New Tax Regime

The new tax regime offers lower tax rates but fewer deductions. If you are someone who does not invest much in tax-saving schemes, this option can make your tax filing easier.

New Tax Slabs for FY 2024-25

Income up to ₹3,00,000 – No tax
₹3,00,001 to ₹6,00,000 – 5%
₹6,00,001 to ₹9,00,000 – 10%
₹9,00,001 to ₹12,00,000 – 15%
₹12,00,001 to ₹15,00,000 – 20%
Above ₹15,00,000 – 30%

Features of the New Tax Regime

The new tax regime is straightforward. You don’t have to submit proofs for different deductions. Salaried people automatically get a ₹50,000 standard deduction. Many people prefer this option when they want easy and fast tax filing.

The Old Tax Regime

The old tax regime is preferred by those who have investments and expenses like insurance, home loan, or tuition fees. It allows you to claim various deductions to lower your taxable income while filing ITR for a salaried person.

Old Tax Slabs for FY 2024-25

For individuals below 60 years:

Up to ₹2,50,000 – No tax
₹2,50,001 to ₹5,00,000 – 5%
₹5,00,001 to ₹10,00,000 – 20%
Above ₹10,00,000 – 30%

For Senior Citizens (60-80 years):

Up to ₹3,00,000 – No tax
₹3,00,001 to ₹5,00,000 – 5%
₹5,00,001 to ₹10,00,000 – 20%
Above ₹10,00,000 – 30%

For Super Senior Citizens (above 80 years):

Up to ₹5,00,000 – No tax
₹5,00,001 to ₹10,00,000 – 20%
Above ₹10,00,000 – 30%

Benefits of the Old Tax Regime

If you are using options like section 80C, 80D, HRA, and other deductions, the old regime can help you reduce your tax bill. Many salaried employees filing ITR prefer this option when they actively invest in savings.

Choosing the Right Tax Regime for You

If you are confused about which option to pick while filing ITR for salaried person, it is always smart to compare both. You can check which tax regime gives you more savings by calculating the final tax amount in both cases.

When the New Regime Is Good

If you don’t invest in tax-saving plans
You want fewer documents while filing ITR
Your salary does not have many allowances

When Old Regime Is Good

You invest in LIC, PPF, and ELSS
You pay home loan EMIs
You get benefits like HRA and LTA from your company

Choosing the correct tax regime can help you file your ITR easily and save your money at the same time.

Important Deductions Salaried People Can Claim

While filing ITR for a salaried person, knowing about deductions is very important, especially under the old regime. These deductions help reduce your taxable income legally.

Common Deductions for Salaried People

Section 80C

You can claim up to ₹1.5 lakh through investments in LIC, PPF, ELSS, or by paying tuition fees.

Section 80D

This is for health insurance. You can claim ₹25,000 for yourself and your family, and ₹50,000 if you have senior citizen parents.

Section 24(b)

You can claim ₹2 lakh on home loan interest under this section, which reduces your tax burden.

Section 80E

This is for education loans. Interest paid on education loans can be claimed as a deduction.

NPS (Section 80CCD(1B))

You can get an extra ₹50,000 deduction if you contribute to the National Pension System (NPS).

Standard Deduction

Salaried employees automatically get a ₹50,000 standard deduction in both old and new regimes.

Knowing about these deductions helps in better tax planning while filing your income tax return for a salaried employee.

Understanding TDS for Salaried People

Tax Deducted at Source (TDS) is an important part of ITR for a salaried person. Your company cuts a portion of your salary as tax and pays it to the government on your behalf.

Role of Form 16

Form 16 is a certificate issued by your employer. It contains details about your salary, TDS, and tax paid. You need this form to file your ITR easily without errors.

Why Check Your TDS?

Always check your salary slips and Form 26AS to ensure the correct amount of TDS is deducted. This will help you avoid surprises at the time of filing your income tax return.

Common Mistakes to Avoid While Filing ITR

Salaried people sometimes make simple mistakes while filing ITR that can lead to notices or paying extra tax. Here are some mistakes you should avoid:

Forgetting to choose the right tax regime
Not reporting other incomes like FD interest
Missing to claim for eligible deductions
Forgetting to e-verify your ITR after filing

Being careful about these points helps you avoid penalties and makes tax filing stress-free.

How to File ITR for a Salaried Person

Filing ITR for a salaried person is easy if you follow these steps:

Collect Form 16, bank statements, and investment proofs
Log in to the income tax portal
Select the right ITR form (usually ITR-1 for a salaried person)
Enter your income and claim deductions
Choose the correct tax regime
Check all details and submit the return
E-verify the return to complete the process

By following these steps, you can file your ITR correctly and on time.

Deadline for Filing ITR

The last date to file your ITR is usually 31st July after the financial year ends. For FY 2024-25, it is expected to be 31st July 2025. Filing before the due date avoids late fees and interest.

Frequently Asked Questions

Can salaried people change the tax regime every year?

Yes, salaried people can choose their tax regime every year while filing their ITR.

Do pensioners also file ITR like salaried employees?

Yes, pension income is treated like salary, so pensioners also follow similar ITR rules.

Is it necessary to file ITR if TDS is already deducted?

Yes, even if your employer has deducted TDS, filing ITR is necessary if your total income crosses the basic exemption limit.

Conclusion

Filing ITR for a salaried person becomes simple when you understand the income tax slabs, tax regimes, and deductions available. The key is to choose the right tax regime that saves you more money and to file your ITR on time. Keep your documents ready, choose wisely, and enjoy stress-free tax filing every year.

Income Tax Slabs FY 2024-25: What Every Salaried Person Should Know Before Filing ITR