Zero Income Tax till 12 Lakh Income under New Tax Regime
The new Income Tax Slabs are as follows
| Income Range | Percentage |
|---|---|
| 0 to 4 Lakhs | 0% |
| 4 Lakhs to 8 Lakhs | 5% |
| 8 Lakhs to 12 Lakhs | 10% |
| 12 Lakhs to 16 Lakhs | 15% |
| 16 Lakhs to 20 Lakhs | 20% |
| 20 Lakhs to 24 Lakhs | 25% |
| Above 24 Lakhs | 30% |
Examples of calculation of tax benefits are given in the table
| Income (lac)* | Tax on Slabs and Rates | Benefit (Rate/Slab) | Rebate Benefit (Full up to Rs 12 lacs) | Total Benefit | Tax after rebate Benefit | |
|---|---|---|---|---|---|---|
| Present | Proposed | |||||
| 8 | 30,000 | 20,000 | 10,000 | 20,000 | 30,000 | 0 |
| 9 | 40,000 | 30,000 | 10,000 | 30,000 | 40,000 | 0 |
| 10 | 50.000 | 40,000 | 10,000 | 40,000 | 50,000 | 0 |
| 11 | 65,000 | 50,000 | 15,000 | 50,000 | 65,000 | 0 |
| 12 | 80,000 | 60,000 | 20,000 | 60,000 | 80,000 | 0 |
| 16 | 1,70,000 | 1,20,000 | 50,000 | 0 | 50,000 | 1,20,000 |
| 20 | 2,90,000 | 2,00,000 | 90,000 | 0 | 90,000 | 2,00,000 |
| 24 | 4,10,000 | 3,00,000 | 1,10,000 | 0 | 1,10,000 | 3,00,000 |
| 50 | 11,90,000 | 10,80,000 | 1,10,000 | 0 | 1,10,000 | 10,80,000 |
*Income after deducting standard deduction of ৳ 75,000 for salaried taxpayers
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