HOW MUCH SAVINGS UNDER NEW TAX SLAB.

Indraneel Sen Gupta , Last updated: 27 February 2010
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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