The new tax slabs under the new tax regime offer a tax rebate of Rs 25,000 to individual taxpayers whose taxable income is up to Rs 7 lakh. Thus, they end up paying zero tax on their taxable income up to Rs 7 lakh. However, if a taxpayer has an income of just a hundred rupees more (ie: Rs 700,100) he/she ends up paying tax of Rs. 25,010. In other words, an additional income of just Rs. 100 results in a tax outgo of Rs. 25,010 – before cess. Hence marginal relief is now provided to ensure that the tax payable should not be more than the income which exceeds Rs. 7 lakh (which in this illustration is Rs. 100).
This marginal tax relief is likely to benefit taxpayers whose taxable income (after claiming eligible deductions) is between Rs 7 lakh and Rs 7.3 lakh.
!(function(f, b, e, v, n, t, s) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadFBEvents = function() {
(function(f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function() {
n.callMethod ? n.callMethod(…arguments) : n.queue.push(arguments);
};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = [];
t = b.createElement(e);
t.async = !0;
t.defer = !0;
t.src = v;
s = b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t, s);
})(f, b, e, v, n, t, s);
fbq(‘init’, ‘593671331875494’);
fbq(‘track’, ‘PageView’);
};
})(
window,
document,
‘script’,
‘https://connect.facebook.net/en_US/fbevents.js’,
);if(typeof window !== ‘undefined’) {
window.TimesApps = window.TimesApps || {};
const { TimesApps } = window;
TimesApps.loadScriptsOnceAdsReady = () => {
var scripts = [
‘https://www.googletagmanager.com/gtag/js?id=AW-877820074’,
‘https://www.googletagmanager.com/gtag/js?id=AW-658129294’,
‘https://timesofindia.indiatimes.com/grxpushnotification_js/minify-1,version-2.cms’,
‘https://connect.facebook.net/en_US/sdk.js#version=v10.0&xfbml=true’,
‘https://timesofindia.indiatimes.com/locateservice_js/minify-1,version-14.cms’
];
scripts.forEach(function(url) {
let script = document.createElement(‘script’);
script.type=”text/javascript”;
if(!false && !false && !false && url.indexOf(‘colombia_v2’)!== -1){
script.src = url;
} else if (!false && !false && !false && url.indexOf(‘sdkloader’)!== -1) {
script.src = url;
} else if (!false && (url.indexOf(‘tvid.in/sdk’) !== -1 || url.indexOf(‘connect.facebook.net’) !== -1 || url.indexOf(‘locateservice_js’) !== -1 )) {
script.src = url;
} else if (url.indexOf(‘colombia_v2’)== -1 && url.indexOf(‘sdkloader’)== -1 && url.indexOf(‘tvid.in/sdk’)== -1 && url.indexOf(‘connect.facebook.net’) == -1){
script.src = url;
}
script.async = true;
script.defer = true;
document.body.appendChild(script);
});
}
}
More News
Motor insurance: 8 key factors to consider when choosing the right policy | Business – Times of India
Gold rate today: Know 22KT, 18KT, 14KT rates from IBJA and what to consider when buying jewellery | India Business News – Times of India
Fall from nearly $20 billion! Paytm market cap near $2.5 billion as its shares continue to slide – Times of India