INCOME TAX slab 2021-22

                   

New Regime Income Tax Slab Rates for for Individual(2021-22)

Income Tax Slab	Tax Rate
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

 

 

Taxable Income Slabs	New Tax Rates
Upto Rs 2,50,000	Nil
From Rs 2,50,001 to Rs 5,00,000	5%
From Rs 5,00,001 to Rs 7,50,000	10%
From Rs 7,50,001 to Rs 10,00,000	15%
From Rs 10,00,001 to Rs 12,50,000	20%
From Rs 12,50,001 to Rs 15,00,000	25%
Above 15,00,000/-	30%
Surcharge ( subject to Marginal Relief )	10% of Income Tax, in case taxable income is above ₹ 50 lacs.
	15% of Income Tax, in case taxable income is above ₹ 1 crore.
	25% of Income Tax, in case taxable income is above ₹ 2 crore.
	37% of Income Tax, in case taxable income is above ₹ 5 crore.
Health & Education Cess	4% of [Income Tax + Surcharge].

 

 

Rebate under Section 87A: Rs.12,500 for individuals, whose total income between Rs 2.5 lakh to Rs 5 lakh.