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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

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.