I am an individual, male, resident of India with self emplyed business, I want to pay advance tax online within 15 June 2016 for the FY 2016-2017. Is the tax rate is changed to minimum 3,00,000. And above 3,00,000 is 10% ?
When calculating the tax in the income tax website, I am seeing this. Can anyone please confirm this ?
Calculation website - https://incometaxindiaefiling.gov.in/, https://www.incometaxindia.gov.in/Pages/tools/tax-calculator.aspx
No the tax rate has not changed to 300000
The slab rate is 250001 - 500000 @ 10% for F.Y 2016 - 17 also
The tax calculator is calculating the tax liability after deducting Rs.5000 u/s 87A ,if ur income is less than 500000
Thanks, now I understand. I think previosly tax rebate u/s 87A was upto Rs. 2000. So, now it is increased ?
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