| New Slabs: | Old Slabs: |
| 0-1.6 lak no tax | 0-1.5 lak no tax |
| 1.6 - 5 lak 10% | 1.5 - 3 lak 10% |
| 5 - 8 lak 20% | 3 - 5 lak 20% |
| above 8 lak - 30% | above 5 lak - 30% |
For a 6 lak per annum salary, meaning Net Income around 4.5 lak (tax saving investments + HRA), the Old and New tax calculations are:
| Old Pattern: 0 - 1.5 no tax 1.5 - 3 15000 (10%) 3 - 4.5 30000 (20%) =45000 - 65000 tax depending on you tax saving investments | New Pattern: 0 - 1.6 no tax 1.6 - 4.5 29000 (10%) escape the 20% slab :-) =29000 to 39000 tax depending on your tax saving investments |
So you will be getting 16000 to 26000 extra in your pocket for a 6 lak salary:-)
A person earning more than 6 laks will save even more.
