How much will the tax Structure impact me

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How much will the tax Structure impact me

Please share a comparison of the Tax Structure before and after the Budget 2017.
Pl provide slab based inputs to calculate how much we have to pay if we are at 10Lakh or 50Lakh or 1 Crore

Profile photo of Ramalingam Suryakumar Asked By: Ramalingam 1 replies 0 helpful answers Last Updated: 9 months, 2 weeks ago
  • Profile photo of Ramalingam SuryakumarRamalingam
    Participant

    Please share a comparison of the Tax Structure before and after the Budget 2017.
    Pl provide slab based inputs to calculate how much we have to pay if we are at 10Lakh or 50Lakh or 1 Crore

  • If annual Taxable Income is Tax due as per % for F.Y. 2016-17 Tax due as per % for F.Y. 2017-18 Comment if any
    0 to 2.5 lacs Nil Nil  
    2.5 Lacs to 5 Lacs 10 % on income 5% Rebate for F.Y. 2016-17 was allowed upto 5 Lacs i.e. Rs.5,000.
    Rebate for F.Y. 2017-18 is allowed on income upto 3.5 Lacs i.e. Rs.2,500/-
    5 Lacs to 10 Lacs 20% of amount over 5 Lacs + 25,000/- 20% of amount over 5 Lacs + 12,500/-  
    10 Lacs and above 30% of the amount above 10 Lacs + 1,25,000/- 30% of the amount above 10 Lacs + 1,12,500/-  
    Between 50 Lacs to 1 Crore Same as above Same as above Additionally Surcharge is been applicable for F.Y. 2017-18 @ 10%,
    prior to which it was applicable on Rs. 1 Crore and above

    Notes : On all of the above, additional education cess and higher education cess is been applicable.

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