| INCOME TAX | READY | RECKONER | ||
| INDIVIDUALS | ||||
| Taxable Income | Tax Payable | Savings | ||
| Currently | Post Budget | |||
| 160,000 | - | - | ||
| 300,000 | 14,000 | 14,000 | - | |
| 500,000 | 54,000 | 34,000 | 20,000 | |
| 700,000 | 114,000 | 74,000 | 40,000 | |
| 800,000 | 144,000 | 94,000 | 50,000 | |
| 1,000,000 | 204,000 | 154,000 | 50,000 | |
| 1,200,000 | 264,000 | 214,000 | 50,000 | |
| 1,500,000 | 354,000 | 304,000 | 50,000 | |
| 2,000,000 | 504,000 | 454,000 | 50,000 | |
| 2,500,000 | 654,000 | 604,000 | 50,000 | |
| 3,000,000 | 804,000 | 754,000 | 50,000 | |
| WOMEN | ||||
| Taxable Income | Tax Payable | Savings | ||
| Currently | Post Budget | |||
| 190,000 | - | - | ||
| 300,000 | 11,000 | 11,000 | - | |
| 500,000 | 51,000 | 31,000 | 20,000 | |
| 700,000 | 111,000 | 71,000 | 40,000 | |
| 800,000 | 141,000 | 91,000 | 50,000 | |
| 1,000,000 | 201,000 | 151,000 | 50,000 | |
| 1,200,000 | 261,000 | 211,000 | 50,000 | |
| 1,500,000 | 351,000 | 301,000 | 50,000 | |
| 2,000,000 | 501,000 | 451,000 | 50,000 | |
| 2,500,000 | 651,000 | 601,000 | 50,000 | |
| 3,000,000 | 801,000 | 751,000 | 50,000 | |
| SENIOR CITIZENS | ||||
| Taxable Income | Tax Payable | Savings | ||
| Currently | Post Budget | |||
| 240,000 | - | - | ||
| 300,000 | 6,000 | 6,000 | - | |
| 500,000 | 46,000 | 26,000 | 20,000 | |
| 700,000 | 106,000 | 66,000 | 40,000 | |
| 800,000 | 136,000 | 86,000 | 50,000 | |
| 1,000,000 | 196,000 | 146,000 | 50,000 | |
| 1,200,000 | 256,000 | 206,000 | 50,000 | |
| 1,500,000 | 346,000 | 296,000 | 50,000 | |
| 2,000,000 | 496,000 | 446,000 | 50,000 | |
| 2,500,000 | 646,000 | 596,000 | 50,000 | |
| 3,000,000 | 796,000 | 746,000 | 50,000 | |
| NOTE: The above calculation do not include education cess. | ||||
| Calculation for savings of tax for taxable income up to Rs 10 lakh | |||||||||
| Existing | Revised | ||||||||
| Slab (Rs) | Rate % | Tax Amt. | Slab (Rs) | Rate % | Tax Amt. | Savings in Tax | |||
| Less than 160,000 | 0 | - | Less than 160,000 | 0 | - | ||||
| A | 160,001 | 300,000 | 10 | 14,000 | 160,001 | 500,000 | 10 | 34,000 | 20,000 |
| B | 300,001 | 500,000 | 20 | 54,000 | 500,001 | 800,000 | 20 | 94,000 | |
| C | 500,001 | 1,000,000 | 30 | 204,000 | 800,001 | 1,000,000 | 30 | 154,000 | 50,000 |
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