The biggest tax exemption ever so far … Understand how the Finance Minister won the heart of middle class with the budget

… So the man of the match of the budget has been won by the middle class. In Pushpa Stylem, the same is the saver. Middle class bat has become bat in the budget. He has found what has been slipped by hand for years. Glad was so happy that do not say adjust in your heart. The largest princely state in tax history. Finance Minister Nirmala Sitharaman has made the middle class happy. If you earn 12 lakhs annually and you have chosen a new tax regime, now you are out of the scope of tax. Slabs of new tax regime have been changed. There will be 15 % on income of 12 to 16 lakhs, 20 % on income of 16 to 20 lakhs and 25 % tax will be levied at 20 to 24 lakhs. This will directly benefit the 12 lakhs of 80 thousand. The one who earns 18 lakhs will save 70 thousand rupees. Those with 25 lakh income will benefit 1 lakh 10 thousand. How the budget has filled everyone’s bag, understand the squeeze of tax exemption …

Understand the complete slab of tax from this table

Know the newest tax slam

Now there should be no confuse with this new tax. You must be wondering that this new tax came on the new regime, then where did the exemption of 12 lakhs go away. So know that there will be 12 lakh discounts, but then if your income is less than 12 lakhs. If your income is also more than 12 lakh rupees, then the revise tax slab above will apply to you, in which relief is also hidden. Now asked the second question, how to benefit the one above Rs 12 lakh, then the answer is that the new tax regime has a big relief of tax exemption inside the slab.

Until today, the slab of New Tax Rejem was something like this

Now, understand how much will be benefited and how it will be. According to the new tax slab which was applicable today, no tax had to be paid on the income of up to Rs 3 lakh. Whereas 5 percent tax was to be paid on income ranging from three lakh to 6 lakh rupees. At the same time, tax of 10 percent on income from 6 to 9, 15 percent on income of Rs 9 to 12 lakh, 20 percent on income of Rs 12 to 15 lakh and 30 percent tax on income above Rs 15 lakh Used to happen

If you talk about the new tax slab, then if your income is up to 12 lakh rupees, then you will not have to pay even one rupee as a tax. A total of 15 percent tax will have to be paid on 12 to 15 lakh rupees. That is, with a salary of 12 to 15 lakh rupees, a total tax of 1 lakh 9 thousand 200 rupees will have to be paid. While he will get benefits of 36 thousand 400 rupees. Whereas in the old tax regime, people of this income group had to pay 1 lakh 45 thousand 600 rupees as tax. At the same time, a person with a salary of 15 to 20 lakhs will have to pay 20 percent tax.

Meaning now they will have to pay a tax of 2 lakh 13 thousand 200 rupees. Whereas they will benefit from Rs 88 thousand 400 as tax benefits. Whereas in the earlier tax regime, he had to pay 3 lakh one thousand 600 rupees as tax. At the same time, people with salary of 20 to 25 lakh rupees will have to pay 25 percent tax. They will have to pay a tax of 3 lakh 43 thousand 200 rupees. Whereas people of this class will have a tax benefit of 1 lakh 14 thousand 400 rupees. Whereas earlier he had to pay tax of 4 lakh 57 thousand 600 rupees. Those with salary of 25 lakh to 40 lakh rupees will have to pay a total tax of 8 lakh 11 thousand 200 rupees. While people of this class will get a tax benefit of 1 lakh 14 thousand 400 rupees. Whereas under the old tax regime, people of this class had to pay a tax of 9 lakh 25 thousand 600 rupees.