...
Total Annual Income (Rs) | Simplified Regime (%) | Old Regime (%), for employees below 60 years of age |
Up to 2,50,000 | Nil | Nil |
2,50,001 to 3,00,000 | Nil | 5 |
3,00,001 to 5,00,000 | 5 | 5 |
5,00,001 to 6,00,000 | 5 | 20 |
6,00,001 to 9,00,000 | 10 | 20 |
9,00,001 to 10,00,000 | 15 | 20 |
10,00,001 to 12,00,000 | 15 | 30 |
12,00,001 to 15,00,000 | 20 | 30 |
Above 15,00,000 | 30 | 30 |
...
HRWorks will calculate tax on the basis of the "New Simplified Regime".
The tax regime, once chosen, cannot be modified during the year
...