What is the tax slab for 8 lakhs?
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What is the tax slab for 8 lakhs?
What is an Income Tax on a Salary of Rs. 8 Lakhs Per Annum? If an individual has a salary of Rs 8 lakh per annum, and he/she has opted for a new income tax slab regime, then an income tax will be Rs 46,800. It is calculated without any exemptions and deductions.
What is the tax for 9 lakhs per annum?
If your taxable income is Rs 9 lakh per annum, you will fall into the tax slab of Rs 7.5 lakhs-10 lakhs. As per the new Tax rate post the budget 2020, 15\% of your taxable income is liable for a tax deduction.
How can I save tax on 10 lakhs?
How to Save Tax for a Salary Above Rs 10 Lakhs?
- Reduce Your Taxable Income by Up To Rs 1.5 Lakhs (Section 80C, 80CCC, 80CCD)
- Additional Reduction of Up To Rs 50,000 for NPS Investors (Section 80CCD.
- Reduce Your Taxable Income by Up To Rs 75,000 (Section 80D)
- Reduce Your Taxable Income by Up To Rs 2 lakhs (Section 24)
What is the income tax on a salary of 8 lakhs?
If your salary is Rs 8 lakh per annum and you opt for the new income tax India regime, your income tax will be Rs 46,800. This will be without any exemptions/deductions. You can save Rs 28,600 more in comparison to the old regime. The table below will make it clear to you. What is the income tax on a salary of Rs 10 lakh per annum?
What is the tax slab for 10 lakhs in India?
What is the tax slab for Rs 10 lakhs? If your taxable income is Rs 10 lakh per annum, you will fall into the tax slab of Rs 10 lakhs – 12.5 lakhs. As per the new Tax rate post the budget 2020, 20\% of your taxable income is liable for the tax deduction. 2.
How can I reduce my income tax if I have 10 lakhs?
If you have a salary of under 10 lakhs, you may opt for the old Income tax regime and try to lower your tax burden as much as possible by implementing the following- Reduce your medical expenditure. Invest in health insurance and avail the deduction 4. Is 10 lakhs a good salary in India?
What is the tax on income from 250000 to 500000?
Between Rs. 250000 to 500000 Tax @ 10\% of (500000–250000) or Rs. Total tax Rs. Total Tax Payable = 25000/-+60000/-+2550/- or Rs. However if you have deductions U/s 80 C to 80 U you can deduct eligible amount from your Gross Total Income. For FY 2017–18 Tax rate for first slab is reduced to 5\% from 10\%.