How is the New s|ab on in come tax ?
upto 5 lakh-notax or
2.5 lakh-to 5 lakh rebate under 87 A as previous year
which is available
Assessee having income more than 5 lakh should he pay tax from 2.5 lakh onwards ?
In new regime income tax rates are as follows
upto Rs.2.5 lakh - no tax
From Rs2,50,001 to Rs.5,00,000 - 5%
From Rs.5,00,001 to Rs.7,50,000 - 10%
From Rs. 7,50,001 to Rs. 10,00,000 - 15%
From Rs.10,00,001 to Rs.12,50,000 - 20%
From Rs.12,50,001 to Rs. 15,00,000 - 25%
Above Rs.15,00,000 - 30%
On 1st Rs2.5 lakh no tax
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