Tax slabs for men:
|
Slab |
Tax rate |
|
0 to Rs 1.5 lakh |
0% |
|
Rs 1.5 lakh to Rs 3 lakh |
10% |
|
Rs 3 lakh to Rs 5 lakh |
20% |
|
Above Rs 5 lakh |
30% |
However, surcharge and education cess remain the same.
The impact:
|
Taxable income (Rs) |
Tax before budget (Rs) |
Tax after budget (Rs) |
More money in the pocket (Rs) |
|
200,000 |
14,420 |
5,150 |
9,270 |
|
500,000 |
101,970 |
56,650 |
45,320 |
|
1,000,000 |
256,470 |
211,150 |
45,320 |
|
1,200,000 |
350,097 |
300,245 |
49,852 |
|
1,500,000 |
452,067 |
402,215 |
49,852 |
|
2,000,000 |
622,017 |
572,165 |
49,852 |
|
2,500,000 |
791,967 |
742,115 |
49,852 |
|
4,000,000 |
1,301,817 |
1,251,965 |
49,852 |
Tax slabs for women:
|
Slab |
Tax rate |
|
0 to Rs 1.8 lakh |
0% |
|
Rs 1.8 lakh to Rs 3 lakh |
10% |
|
Rs 3 lakh to Rs 5 lakh |
20% |
|
Above Rs 5 lakh |
30% |
However, surcharge and education cess remain the same.
The impact:
|
Taxable income (Rs) |
Tax before budget (Rs) |
Tax after budget (Rs) |
More money in the pocket (Rs) |
|
200,000 |
10,815 |
2,060 |
8,755 |
|
500,000 |
98,365 |
53,560 |
44,805 |
|
1,000,000 |
252,365 |
208,060 |
44,305 |
|
1,200,000 |
346,132 |
296,845 |
49,287 |
|
1,500,000 |
448,102 |
398,815 |
49,287 |
|
2,000,000 |
618,052 |
568,765 |
49,287 |
|
2,500,000 |
788,002 |
738,715 |
49,287 |
|
4,000,000 |
1,297,852 |
1,248,565 |
49,287 |
Tax slabs for senior citizens:
|
Slab |
Tax rate |
|
0 to Rs 2.25 lakh |
0% |
|
Rs 2.25 lakh to Rs 3 lakh |
10% |
|
Rs 3 lakh to Rs 5 lakh |
20% |
|
Above Rs 5 lakh |
30% |
However, surcharge and education cess remain the same.
The impact:
|
Taxable income (Rs) |
Tax before budget (Rs) |
Tax after budget (Rs) |
More money in the pocket (Rs) |
|
200,000 |
1,030 |
0 |
1,030 |
|
500,000 |
88,580 |
49,875 |
38,705 |
|
1,000,000 |
243,080 |
203,424 |
39,656 |
|
1,200,000 |
335,368 |
291,746 |
43,622 |
|
1,500,000 |
437,338 |
393,716 |
43,622 |
|
2,000,000 |
607,288 |
563,667 |
43,621 |
|
2,500,000 |
777,238 |
733,617 |
43,621 |
|
4,000,000 |
1,287,088 |
1,243,467 |
43,621 |
|
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