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0-3 lakh rupees – Nil
3-7 lakh rupees – 5 percent
7-10 lakh rupees – 10 percent
10-12 lakh rupees – 15 percent
12-15 lakh rupees – 20 percent
More than 15 lakh rupees – 30 percent
In the new tax regime, salaried people can save Rs 17,500 in income tax. Union Finance Minister Nirmala Sitharaman says that the new tax system will cause a revenue loss of seven thousand crores to the government and four crore salaried people will benefit from it.
