TAX Benefit for Taxable Income in Budget 2017-2018

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 300000/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

0

0

0

SR CITIZEN 60-80 YEARS OLD

0

0

0

SR CITIZEN 80 YEARS AND ABOVE

0

0

0

 

Due to change in 87A person between age of 60-80 years and having income between 350001 to 399994 have to pay more tax between Rs 1 to Rs 2575/-

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 350001/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

5150

5150

0

SR CITIZEN 60-80 YEARS OLD

0

2575

-2575

SR CITIZEN 80 YEARS AND ABOVE

0

0

0

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 400000/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

10300

7725

2575

SR CITIZEN 60-80 YEARS OLD

5150

5150

0

SR CITIZEN 80 YEARS AND ABOVE

0

0

0

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 500000/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

20600

12875

7725

SR CITIZEN 60-80 YEARS OLD

15450

10300

5150

SR CITIZEN 80 YEARS AND ABOVE

0

0

0

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 800000/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

87550

74675

12875

SR CITIZEN 60-80 YEARS OLD

82400

72100

10300

SR CITIZEN 80 YEARS AND ABOVE

61800

61800

0

 

TAX BENEFIT FOR TAXABLE INCOME OF RS 1000000/-BUDGET-2017

TYPE OF PERSON

OLD TAX

NEW TAX

BENEFIT

INDIVIDUAL <60YEARS & HUF

128750

115875

12875

SR CITIZEN 60-80 YEARS OLD

123600

113300

10300

SR CITIZEN 80 YEARS AND ABOVE

103000

103000

0


 
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