OLD VS NEW INCOME TAX SLABS FY 2020-21

Income (₹) Old Rate Tax Amount New Rate Tax Amount
Upto ₹ 2.5 Lakhs 0 0 0 0
₹ 2.5 Lakhs - ₹ 5 Lakhs 0 0 0 0
₹ 2.5 Lakhs - ₹ 5 Lakhs 5% 12,500 5% 12,500
₹ 5 Lakhs - ₹ 7.5 Lakhs 20% 50,000 10% 25,000
₹ 7.5 Lakhs - ₹ 10 Lakhs 20% 50,000 15% 37,500
₹ 10 Lakhs - ₹ 12.5 Lakhs 30% 75,000 20% 50,000
₹ 12.5 Lakhs - ₹ 15 Lakhs 30% 75,000 25% 62,500
> ₹ 15 Lakhs 30% 30%

Exemptions & Deductions YES NO

Gross Income (₹) 1,500,000

Low Medium High Very High

Deductions Deductions Deductions Deductions
A B C D
Gross Income 1,500,000 1,500,000 1,500,000 1,500,000
HRA Exemption 360,000
Standard Deduction 50,000 50,000 50,000 50,000
Loss from House Property 200,000
Gross Total Income 1,450,000 1,450,000 1,250,000 1,090,000
Deductions under Sec. 80C 150,000 150,000 150,000
Deductions under Sec. 80D 50,000
Net Taxable Income 1,450,000 1,300,000 1,100,000 890,000

Tax @ Old Slabs 257,400 210,600 148,200.00 114,920

Tax @ New Slabs 195,000 195,000 195,000 195,000
Gain/ Loss under New Slabs 62,400 15,600 -46,800 -80,080
 BY - ASSETYOGI

Remarks

If Net Taxable Income is < ₹ 5 Lakhs

If Net Taxable Income is > ₹ 5 Lakhs

Break-Even

E
1,500,000

50,000

1,450,000
150,000
50,000
1,250,000

195,000
195,000
0