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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



Category Income Tax, Other Articles by - Indraneel Sen Gupta 



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