Find out all about the budget and how it affects your pocket. Here's how the Budget impacts salaried men and women
Measure: New tax slab for men
| Taxable income (in Rs) |
Rate (%) |
| Up to 160,000 |
Nil |
| 160,001 - 500,000 |
10 |
| 500,001 - 800,000 |
20 |
| 800,001 upwards |
30 |
|
New tax slab for women
| Taxable income (in Rs) |
Rate (%) |
| Up to 190,000 |
Nil |
| 190,001 - 500,000 |
10 |
| 500,001 - 800,000 |
20 |
| 800,001 upwards |
30 |
|
Impact of changes for men:
| Taxable income (Rs) |
Tax -before budget |
Tax after budget |
Saving |
| (Rs) |
(Rs) |
(Rs) |
| 200000 |
4120 |
4120 |
0 |
| 500000 |
55620 |
35019 |
20601 |
| 1000000 |
210120 |
158619 |
51501 |
| 1200000 |
271919 |
220419 |
51500 |
| 1500000 |
364619 |
313119 |
51500 |
| 2000000 |
519119 |
467619 |
51500 |
| 2500000 |
673619 |
622119 |
51500 |
| 4000000 |
1137119 |
1085619 |
51500 |
Impact of changes for women:
| Taxable income (Rs) |
Tax -before budget |
Tax after budget |
Saving |
| (Rs) |
(Rs) |
(Rs) |
| 200000 |
1029 |
1029 |
0 |
| 500000 |
52529 |
31929 |
20600 |
| 1000000 |
207029 |
155529 |
51500 |
| 1200000 |
268829 |
217329 |
51500 |
| 1500000 |
361529 |
310029 |
51500 |
| 2000000 |
516029 |
464529 |
51500 |
| 2500000 |
670529 |
619029 |
51500 |
| 4000000 |
1134029 |
1082529 |
51500 |
Measure: Limit under section 80C widened to include Rs 20,000 infrastructure bonds
Impact: You can now invest in infrastructure bonds to the tune of Rs 20,000 and increase your deduction limit from Rs 1 lakh to Rs 1.2 lakh
Measure: To extend 1% interest subsidy scheme for affordable housing from March 2011
Impact: In the last budget, the finance minister had proposed to provide support to borrowers by way of interest subvention of 1% on all housing loans up to Rs10 lakh to individuals, provided the cost of the house does not exceed Rs 20 lakh. This has now been extended so if you were planning to buy your home, make sure you grab this offer.
Measure: Rs 100 contribution from the Government to each New Pension Scheme (NPS) opened in the year 2010-2011
Impact: That’s a boost to your retirement planning. The Government will chip in Rs 1,000 each year towards your NPS account if you open the account in 2010-2011. The FM plans to continue this offer for the next 3 years.
Measure: CET on petro products hiked by Re 1
Impact: Your commute to work just got more expensive
Next page: See old tax slabs
