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New Income Tax Rates and Slabs

| Filed under Economy

Following are the new tax rates and slabs:
Men below 65 years of age
Up to Rs 1,60,000
NIL
Rs 1,60,001 to Rs 3,00,000
10% of the amount by which total income exceeds Rs 1,60,000
Rs 3,00,001 to Rs 5,00,000
Rs 14,000 plus 20% of the amount by which total income exceeds Rs 3,00,000
Rs 5,00,000 and above
Rs 54,000 plus 30% of the amount by which total income exceeds Rs 5,00,000
Women
Up to Rs 1,90,000
NIL
Rs 1,90,001 to Rs 3,00,000
10 per cent
Rs 3,00,001 to Rs 5,00,000
20 per cent
Rs 5,00,000 and above
30 per cent
Senior Citizens
Up to Rs 2,40,000
NIL
Rs 2,40,001 to Rs 3,00,000
10 per cent
Rs 3,00,001 to Rs 5,00,000
20 per cent
Rs 5,00,000 and above
30 per cent

Source : Economic Times