New Income Tax Slabs for Year 2017-18:
| Income | Tax rate |
| Individual tax payers | |
| Up to Rs 2,50,000 | No tax |
| Rs 2,50,001 to Rs 5,00,000 | 5% |
| Rs 5,00,001 – 10,00,000 | 20% |
| More than Rs 10,00,000 | 30% |
| Senior citizens who are 60 years old and above but less than 80 years | |
| Up to Rs 3,00,000 | No tax |
| Rs 3,00,001 to Rs 5,00,000 | 10% |
| Rs 5,00,001 to Rs 10,00,000 | 20% |
| More than Rs 10,00,000 | 30% |
| Senior Citizens who are 80 years old and above | |
| Up to Rs 5,00,000 | No tax |
| Rs 5,00,001 to Rs 10,00,000 | 20% |
| More than Rs 10,00,000 | 30% |
| (Surcharge of 10 per cent on income of all individuals above Rs 50 lakh and less than Rs 1 crore and surcharge of 15 per cent on income above Rs 1 crore). | |
Earlier, there were three slabs — 10 per cent income tax for annual income between Rs 2.5 lakh and Rs 5 lakh, 20 per cent on annual income from Rs 5 lakh to Rs 10 lakh, and 30 per cent on income above Rs 10 lakh.
Tall claims !!
Income Tax slab rate reduced from
10% to 5% , For income upto Rs.500000!
Tax payer will be benefited by Rs.12500!
Is it true?
But, media / news papers does not highlight one change.
Yes, Tax rebate of Rs.5000 for income upto Rs.500000 available till last year is changed.
Now it is reduced to Rs.2500 and that too upto income of Rs.350000.
Giving benefit by one hand and take away the existing benefit by the other hand!
What an ideaji?
Pl. Read the examples compiled by me .
Those who are under income of Rs. 500000 are not benefited anything.
But, those who are having income of above Rs.500000 are fully benefitted by
Rs.12500.
No comments:
Post a Comment