( Two examples ) | ||
| Gross annual salary | 2,40,000 | 6,00,000 |
| Less: Standard | 25,000 | - |
| Total taxable income | 2,15,000 | 6,00,000 |
| Tax | 38,500 | 1,54,000 |
| Maximum Section 88 rebate (2001-02) | 16,000 | 16,000 |
| Total tax, 2001-02 (incl. 2% surcharge) | 22,950 | 1,40,760 |
| Maximum Section 88 rebate (2002-03) | 8,000 | - |
| Total tax , 2002-03 (incl. 5% surcharge) | 32,025 | 1,61,700 |
| Extra tax you will pay in 2002-03 | 9,075 | 20,940 |
| Figures in Rs | ||
How Much Does It Hurt ?
How Much Does It Hurt ?
How Much Does It Hurt ?
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