On Saturday, while presenting the Union Budget 2015, if the Finance Minister Arun Jaitley increases the income tax slab by Rs 50,000, then individuals earning in the range Rs 3 lakh to Rs 15 lakh per annum can save between Rs 3,090 to Rs 5,150 in taxes in FY16 as compared with FY15. And if the minister is more gracious, and increases the slab by Rs 1,00,000 then the savings for individuals would range between Rs 3,090 to Rs 10,300 for income bracket of Rs 3 lakh – Rs 15 lakh per year.
If tax slabs are increased by Rs 1,00,000 (without including Section 80C deduction of Rs. 1,50,000)
If tax slabs are increased by Rs 1,00,000 (including Section 80C deduction of Rs. 1,50,000)
If tax slabs are increased by Rs 50,000 (without including Section 80C deduction of Rs. 1,50,000)
If tax slabs are increased by Rs 50,000 (including Section 80C deduction of Rs. 1,50,000)