Entitlements

Income

Exempt

Taxable

Salary

3,458,061

3,458,061

E. Leave

2,400,000

2,400,000

PF

214,369

214,369

Gratuity

Bonus

Total

6,072,430

Rs.

6,072,430

Rs.

6,072,430

Tax Working

Total Taxable Income

Tax Rate

Rs. 600,000 + 27.5%

of the amount
exceeding
Rs.4,000,000

Tax Payable for the Period

Rs.

1,169,918

Tax Already Paid

Rs.

518,108

Tax Due

Rs.

651,810

Workings
Old slabs
350,001
400,001
450,001
550,001
650,001
750,001
900,001
1,050,001
1,200,001
1,450,001
1,700,001
1,950,001
2,250,001

2,850,001

3,550,001

4,550,001

Slab rates
Amounts
Old Tax
New Tax
0.00%
1.50%
400,000
6000
0
2.50%
430,000
10750
1500
3.50%
500,000
17500
5000
4.50%
600,000
27000
10000
6.00%
700,000
42000
15000
7.50%
800,000
60000
22500
9.00%
1,000,000
90000
42500
10.00%
1,200,000
120000
62500
11.00%
1,400,000
154000
82500
12.50%
1,600,000
200000
110000
14.00%
1,800,000
252000
140000
15.00%
2,000,000
300000
170000
2,200,000
330000
210000
2,850,000
16.00%
2,400,000
0
245000
2,600,000
0
440000
2,800,000
0
480000
3,550,000
17.50%
3,000,000
0
520000
3,200,000
0
560000
3,400,000
0
600000
4,550,000
18.50%
3,600,000
0
640000
3,800,000
0
680000
4,000,000
0
720000
4,200,000
0
760000
4,400,000
0
800000
onwards
20.00%
4,600,000
920000
840000
350,000
400,000
450,000
550,000
650,000
750,000
900,000
1,050,000
1,200,000
1,450,000
1,700,000
1,950,000
2,250,000

New Rates

exceeds 400,000 but =< Rs

750,000
5% of the amount exceeding
Rs 400,000
exceeds 750,000 but <=
1,500,000
17,500 + 10 % of exceeding
exceeds 750,000
1,500,000 but <=
2,000,000
95,000 + 15 % of exceeding
1,500,000
2,500,000
175,000 + 17.5 % Exceeding
2,000,000

exceeds 2,500,000
420,000 + 20 % Exceeding
2,500,000

100
24.24
75.76

151.52