Tax Ready Reckoner: Your income tax slabs, Sec 80C and Sec 80D deductions
|Income Range||General (non-senior citizens) Category||Women (Below 60 years of age) (This category is abolished from this year and is thus is same as that of General Category||Senior Citizens (Men and Women above 60 years of age), but below 80 years||Very Senior Citizens (Men and Women above 80 years of age)|
|Upto Rs. |
|Rs. 2,00,001 to Rs. 2,50,000||10% *||10% *||Nil||Nil|
|Rs. 2,50,001 to Rs. 5,00,000||10% *||10% *||10% *||Nil|
|Rs. 5,00,001 to Rs. 10,00,000||20%||20%||20%||20%|
|Above Rs. 10,00,000||30% **||30% **||30% **||30% **|
There is a surcharge of 10% on persons whose taxable income exceeds Rs 1 crore per year. This will apply to individuals, HUFs, firms and entities with similar tax status.
The total deduction under this section (alongwith section 80CCC and 80CCD) is limited to Rs. 1 lakh only.