|Income Tax Slabs||Tax Percentage|
|Income upto Rs.2,00,000/-||Nil||Nil||Nil|
|Income range Rs.2,00,001/- to Rs.2,50,000/-||10||Nil||Nil|
|Income range Rs.2,50,001/- to Rs.5,00,000/-||10||10||Nil|
|Income range Rs.5,00,001/- to Rs.10,00,000/-||20||20||20|
|Income above Rs.10,00,000/-||30||30||30|
Note• Basic Income Tax exemption limit retained at Rs.2,00,000/- in case of Individuals (for both Male & Female), HUF's & AOP.
• A person whose Income is below Rs.5,00,000/- will get a tax credit of Rs.2,000/- under newly inserted [section 87 A] in Income Tax Act.
• Surcharge @ 10% if total income exceeds Rs.1 crore.
Some numbers will help us better recognise the impact of Tax Credit
|Your Total Income||Tax||New Tax||Saving|