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You can get big relief in tax, know what is slab now

In the new system of income tax, the rates are lower. But, for this, you have to leave the deduction and the exemption.



In a while, Finance Minister Nirmala Sitharaman is going to present the budget of 2021-22. People expect tax slabs to be cut. In the budget of last year, the Finance Minister introduced a new system of income tax. Tax rates are lower in this. But, for this, you have to leave the deduction and the exemption. Taxpayers who want the benefit of deduction and tax exemption can remain in the old tax system. Let’s know how the tax slab is now.

Also Read: Big Alert ⚠ Starting today, many rules are changing in the country including LPG rate, banking and trains, know the complete list of changes

Income tax slab in old and new system now

IncomeTax rate in new systemTax rate in the old system
Up to Rs 2.5 lakhZeroZero
Rs 2.5 lakh to Rs 5 lakh5 percent5 percent
Rs 5 lakh to Rs 7.5 lakh10 percent20 percent
7.5 Lakhs to Rs 10 Lakhs15 percent20 percent
10 Lakhs to 12.5 Lakhs20 percent30 percent
12.5 lakhs 15 lakhs25 percent30 percent
More than 15 lakh rupees30 percent30 percent

 

 

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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