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Theo under the new regime on individual shall be required to pay tax at the reduced straight off 10% for income between five lacks tau 7.5.
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Let's against the prevailing 20%.
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So anyone who's earning between 5 to 7.5 max today 20% we are now reducing it in the new regime, which is devoid of exemptions 10% only 20% comes down to 10% of the next example for income between 7.5 lacks toe.
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10 max earlier said about 5 to 7.5.
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Now I'm saying about 7.5 pen back.
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So for income between 7.5 to 10 max, he or she will pay at the reduced rate of 15% only against the current, prevailing 20% certain Melanie for the income between 10 blacks to 12.5 Next.
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Presently, the taxes people for income between 10 black toe 20.5 black.
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The present prevailing rate is 30%.
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That is now being brought down to 20% of the income between.
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I spoke about 10 to 12.5 left, now 12.5 to 15.
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Next be at the moment 1.5 to 15 Lexus tax.
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That person, now door turning between 12.5 to 15 lacks, will be charged at 25%.
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Only income about being black will be continued at percent, but no exemptions.
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I thought door learning upto five lacks shall not pay any tax either in the world routine or the new routine.
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So the proposed a tax structure will provide significant relief to taxpayers and more so the doors in the middle class.
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I just want to very clearly.
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Redl 25022.5 Last exempt now will be exempted.
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The new scheme, also 2.5 next five next 5% now will be 5% in the new factory.
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5 to 7.5 20% now will become 10% in the new rate, 7.5 to 10 max 20% now will be 15% in the new 10 to 12.5 30%.
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Now will now come to 20% 12.5 to 15.
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30% 25% in the new read, about 15 continues at 30%.
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In the new tax, redeemed benefit will accrue to a taxpayer depending upon the exemptions and deductions claimed by him.
