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The new budget has already brought good cheer to the average Indian by raising the taxation slabs. A comparison between the old and new tax slabs is as follows:
General slabs Taxable Income (old slabs) Taxable Income (new budget) Rate of Tax (%) Up to Rs 1,10,000 p.a. Up to Rs 1,50,000 p.a. Nil Rs 1,10,001 – Rs 1,50,000 p.a. Rs 1,50,001 – Rs 3,00,000 p.a. 10 Rs 1,50,001 – Rs 2,50,000 p.a. Rs 3,00,001 – Rs 5,00,000 p.a. 20 Above Rs 2,50,000 p.a. Above Rs 5,00,000 p.a. 30 Women assessees Taxable Income (old slabs) Taxable Income (new budget) Rate of Tax (%) Up to Rs 1,45,000 p.a. Up to Rs 1,80,000 p.a. Nil Rs 1,45,001 – Rs 1,50,000 p.a. Rs 1,80,001 – Rs 3,00,000 p.a. 10 Rs 1,50,001 – Rs 2,50,000 p.a. Rs 3,00,001 – Rs 5,00,000 p.a. 20 Above Rs 2,50,000 p.a. Above Rs 5,00,000 p.a. 30 Senior citizens (age above 65 years) Taxable Income (old slabs) Taxable Income (new budget) Rate of Tax (%) Up to Rs 1,95,000 p.a. Up to Rs 2,25,000 p.a. Nil Rs 2,25,001 – Rs 3,00,000 p.a 10 Rs 1,95,001 – Rs 2,50,000 p.a. Rs 3,00,001 – Rs 5,00,000 p.a. 20 Above Rs 2,50,000 p.a. Above Rs 5,00,000 p.a. 30 Published on May 6, 2010 · Filed under: Income Tax Guides; Tagged as: Income Tax, income tax benefits, Income Tax Guides, Taxation Structure
Comparison between old and new tax structures
May 6th, 2010 by rupeetalk.com
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