In addition, you could save upto ~6.5 K on additional investment in long term, government infrastructure bonds, giving a total benefit of upto 56.6 thousand
Revised Tax Slabs are as follows
- No tax for income upto 1.6 lakh.
- For income between 1.6 lakh - 5 lakh tax liability 10%. (old slab was Rs 1.6 to 3 lakh)
- For income between 5 lakh - 8 lakh 20%. (old slab was Rs 3-5 lakh)
- For income above 8 lakh 30% (old slab was Rs 5 lakh +)
- Additional investment of 20K in infra bonds over and above Rs 1 lakh in 80C