Income Tax - 2021: 2022
Income Tax Slabs in India are announced by the finance minister
every year. Currently, there are two different Income Tax regimes. Under the
new regime, tax benefits cannot be availed. Under the old regime, taxpayers can
avail of tax benefits.
Income Tax Slab for Year 2021-22
Given below are the various tables for the Revised
Income Tax slabs and rates for the AY 2021-22:
New Regime Income Tax Slab Rates for Individuals:
|
Income Tax Slab |
Tax Rates |
|
Up to Rs.2.5 lakh |
Nil |
|
Above Rs.2.50 - Rs.5 lakh |
5% of the total income that is more than Rs.2.5
lakh |
|
Above Rs.5 lakh - Rs.7.50 lakh |
10% of the total income that is more than Rs.5
lakh + Rs.12,500 |
|
Above Rs.7.50 lakh - Rs.10 lakh |
15% of the total income that is more than Rs.7.5
lakh + Rs.37,500 |
|
Above Rs.10 lakh - Rs.12.50 lakh |
20% of the total income that is more than Rs.10
lakh + Rs.75,000 |
|
Above Rs.12.50 - Rs.15 lakh |
25% of the total income that is more than Rs.12.5
lakh + Rs.1,25,000 |
|
Above Rs.15 lakh |
30% of the total income that is more than Rs.15
lakh + Rs.1,87,500 |
Note: New income tax rates are optional
It is applicable only for those individuals who are taking the new regime of Income tax. It is good only those who have income more than 12 lakh and no home loan.
Click below and download the excel file. Insert only your basic pay and deductions and get your tax automatically. Take its print and submit it to your office.
Download the Excel Sheet and calculate your tax.
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Income Tax Calculator 2021-22 (Download)
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For DCPS Holder Old Income Tax Regime is good. So it is used here.
