Taxable Income (TI) in Rupees | Income Tax in Rupees |
---|---|
Doesn't exceed Rs 1,60,000 | Nil |
Is greater than Rs 1,60,000 and less than or equal to Rs 5,00,000 | (TI - 1,60,000) x 10% |
Is greater than Rs 5,00,000 and less than or equal to Rs 8,00,000 | [(TI - 5,00,000) x 20%] + 34,000 |
Is greater than Rs 8,00,000 | [(TI - 8,00,000) x 30%] + 94,000 |