New Income Tax Slabs                   Income Tax Rates

Upto Rs. 4 Lakhs                                       NIL

Rs. 4 Lakhs+ to Rs. 8 Lakhs                    5% above Rs. 4 Lakhs

Rs. 8 Lakhs+ to Rs. 12 Lakhs                  Rs. 20,000   +   10% above Rs. 8 Lakhs

Rs. 12 Lakhs+ to Rs. 16 Lakhs                 Rs. 60,000  +   15% above Rs. 12 Lakhs

Rs. 16 Lakhs+ to Rs. 20 Lakhs                Rs. 1,20,000 + 20% above Rs. 16 Lakhs

Rs. 20 Lakhs+ to Rs. 24 Lakhs                Rs. 2,00,000 + 25% above Rs 20 Lakhs

Above Rs. 24 Lakhs                                    Rs. 3,00,000 + 30% above Rs. 24 Lakhs

Health & Education Cess                           4% on Tax Payable

Rebate u/s 87A                                            Upto Rs 12 Lakhs of Income at Normal Rates, no tax is payable.