Personal taxation - mumbaibull.com



Personal taxation - Important notes

  • Tax slabs
    -Upto Rs 1 Lakh - Nil
    -From Rs 1 Lakh - Rs 1.5 Lakh - 10%
    -From Rs 1.5 Lakh - Rs 2.5 Lakh - 20%
    -From Rs 2.5 Lakh and above - 30%
  • Surcharge of 10% for income above Rs 10 Lakh
  • No surcharge for income below Rs 10 Lakh
  • 2% Cess on total tax
  • Women tax payers have basic slab at Rs 1.35 Lakhs
  • Senior citizen tax payers have basic slab at Rs 1.85 Lakhs
  • No standard deduction
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