Question
Download Solution PDFRates of Income Tax under new regime applicable for financial year 2021-22 in India are:
(A) 5%
(B) 10%
(C) 12%
(D) 15%
(E) 20%
Choose the correct answer from the options given below:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is (A). (B), (D), (E) only
Key Points
The tax rates under the New Tax Regime as per section 115BAC are as under:
| Total Income | Income Tax |
| Upto ₹ 2,50,000 | Nil |
| From ₹ 2,50,001 to ₹ 5,00,000 | 5% |
| From ₹ 5,00,001 to ₹ 7,50,000 | 10% |
| From ₹ 7,50,001 to ₹ 10,00,000 | 15% |
| From ₹ 10,00,001 to ₹ 12,50,000 | 20% |
| From ₹ 12,50,001 to ₹ 15,00,000 | 25% |
| Above ₹ 15,00,000 | 30% |
Last updated on Jul 17, 2025
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