Tax Savings Detail Under Various Heads

The first step for tax planning is to know how much Tax you need to pay!
Up to Rs. 2.5 Lakhs     Nil
Rs. 2.5 – 5 Lakhs         10%
Rs. 5 – 10 Lakhs          20%
Above Rs. 10 Lakhs     30%
Senior Citizen
Up to Rs. 3 Lakhs        Nil
Rs. 3 – 5 Lakhs            10%
Rs. 5 – 10 Lakhs          20%
Above Rs. 10 Lakhs     30%
Very Senior Citizens
(More than 80 Years of Age)Up to Rs. 5 Lakhs
Rs. 5 – 10 Lakhs         Nil
Above Rs. 10 Lakhs    20%
Education cess of 3%
- Surcharge of 15% on Rs 1 crore plus income earners
- Tax credit of Rs 5,000 for income up to Rs 5 lakhs u/s 87A
- There are no separate slab for male and female

Income Tax Slab TaxTax Savings Detail Under Sec
80C - Lots of Options like PPF ELSS, FD, etc
80CCC - Pension Products
80 CCD - Central Government Employee Pension Scheme

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