Income tax calculation under new rates

Tax planning 119 views 2 replies

Assume I have total income of 12 lakhs p.a. This includes 7 lakhs from pension and fd interest. And 5 lakhs from STCG from sale of equity. So tax on 5 lakhs will be @ 20%. What will be the tax rate on 7 lakhs ? Will it be 15% considering total income of 12 lakhs or 5% considering 7 lakhs only ?

Replies (2)
Pension commuted or not

Please ignore the word Pension in the above query. Pension I meant is annuity from pension plans of investments in Insurance companies.


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