Taxpayers to gain up to Rs 44,000 per year

The old tax slabs were: à Upto Rs 1,10,000 – Nil à Rs 1,10,001 – Rs 1,50,000 – 10% à Rs 1,50,001 – Rs 2,50,000 – 20% à Above Rs. 2,50,000 – 30% The new tax slabs are: à Upto Rs 1,50,000 - Nil à Rs 1,50,001 – Rs 3,00,000 – 10% à Rs 3,00,001 – Rs 5,00,000 – 20% à Above Rs 5,00,000 – 30% Income Old Tax New Tax Rs 2,50,000 (14,000) Rs 24,000 Rs 10,000 Rs 5,00,000 (45,000) Rs 1,00,000 Rs 55,000 Rs 7,50,000 (44,000) Rs 1,74,000 Rs 1,30,000 Rs 10,00,000 (45,000) Rs 2,49,000 Rs 2,05,000