Income tax Changes

Income Tax Rebate is available of max 2500 if net total Income between 250000-350000

 

Slab rate

Income

Tax

upto 250000

0%

250001 to 500000

5%

500001 to 1000000

20%

Above 1000000

30%

Rebate

 

If income between 250000-350000

2500.00

Education Cess

4% on tax

 

Income Tax Rebate is available of max 2500 if net total Income between 250000-350000

Particulars

Case 1

Case 2

Case 3

Income

350000

500000

600000

Tax

5000

12500

32500

Rebate

2500

0

0

Net Tax

2500

12500

32500

Education and Health Cess 4%

100

500

1300

Tax + Cess

2600

13000

33800

  1. Tax Practical
  2. Practical Income Tax

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.