Comparative analysis on budget 2020 for Salaried Individual
Comparative analysis on budget 2020 for Salaried Individual Under New Tax Regime Case I-Salaried individual those who are not claiming any exemptions or deductions Amount (Rs.) Gross salary 7,50,000 10,00,000 12,50,000 15,00,000 20,00,000 Tax Rs.2,50,001-5,00,000 5% 12,500 12,500 12,500 12,500 12,500 Rs.5,00,001-7,50,000 10% 25,000 25,000 25,000 25,000 25,000 Rs.7,50,001-10,00,000 15% Rs.10,00,001-12,50,0000 20% Rs.12,50,001-15,00,000 25% Rs.15,00,001-20,00,000 30% Tax Payable 37,500 75,000 1,25,000 1,87,500 3,37,500 Health Education Cess 4% 1,500 3,000 5,000 7,500 13,500 Total Tax Payable 39,000 78,000 1,30,000 1,95,000 3,37,500…