Fin year 2020-21

tax on salary income of Rs. 10,50,000/- shall be as follows :-

1) first 2,50,000/-    :   nil as basic exemption limit

2) next 2,50.000/-   :   12,500 @ 5%

3) next 2,50,000/-   :   25,000 @ 10%

4) next 2,50,000/-   :   37,500 @ 15%

5) next 50,000/-     :     10,000 @ 20%

 total tax shall be Rs. 85,000 before rebate of Section 87A i.e. Rs. 12500 so effectively tax shall be payabe Rs 72,500. and cess @ 4%