Existing Tax Regime v/s New Tax Regime 115BAC (For Resident Individual Age Below 60)
Income —–> |
≤5,00,000 |
5,50,000 |
6,00,000 |
6,50,000 |
7,00,000 |
7,50,000 |
Deductions |
25,000 |
Same |
Same |
New |
New |
New |
New |
50,000 |
Same |
Existing |
Same |
New |
New |
New |
75,000 |
Same |
Existing |
Existing |
Same |
New |
New |
1,00,000 |
Same |
Existing |
Existing |
Existing |
Same |
New |
1,25,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Same |
1,50,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Existing |
1,75,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Existing |
2,00,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Existing |
2,25,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Existing |
≥ 2,50,000 |
Same |
Existing |
Existing |
Existing |
Existing |
Existing |
Continue…
Income |
8,50,000 |
9,50,000 |
12,25,000 |
13,50,000 |
≥15,00,000 |
Deductions |
25,000 |
New |
New |
New |
New |
New |
50,000 |
New |
New |
New |
New |
New |
75,000 |
New |
New |
New |
New |
New |
1,00,000 |
New |
New |
New |
New |
New |
1,25,000 |
New |
New |
New |
New |
New |
1,50,000 |
Same |
New |
New |
New |
New |
1,75,000 |
Existing |
Same |
New |
New |
New |
2,00,000 |
Existing |
Existing |
Same |
New |
New |
2,25,000 |
Existing |
Existing |
Existing |
Same |
New |
≥ 2,50,000 |
Existing |
Existing |
Existing |
Existing |
Same |
Existing Tax Regime
Income (Rs.) |
Tax Rate % |
Upto 2,50,000 |
NIL |
From 2,50,001 to 5,00,000 |
5 % |
From 5,00,001 to 10,00,000 |
20 % |
Above 10,00,000 |
30 % |
Surcharge % if Taxable Income > |
10 % if Above 50 Lakh to 1Cr |
15 % if Above 1 Cr to 2 Cr |
25 % if Above 2 Cr to 5 Cr |
37 % if Above 5 Cr |
Health & Education Cess |
4 % |
87A Rebate Amount if Total Income < |
12,500 if < 5 Lakh |
New Tax Regime u/s 115BAC
Income (Rs.) |
Tax Rate % |
Upto 2,50,000 |
Nil |
From 2,50,001 to 5,00,000 |
5 % |
From 5,00,001 to 7,50,000 |
10 % |
From 7,50,001 to 10,00,000 |
15 % |
From 10,00,001 to 12,50,000 |
20 % |
From 12,50,001 to 15,00,000 |
25 % |
Above 15,00,000 |
30 % |
Surcharge % if Taxable Income > |
10 % if Above 50 Lakh to 1Cr |
15 % if Above 1 Cr to 2 Cr |
25 % if Above 2 Cr to 5 Cr |
37 % if Above 5 Cr |
Health & Education Cess |
4 % |
87A Rebate if Income < |
12,500 if < 5 Lakh |
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