The new tax slabs

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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