Budget 2019: Here's how much tax low, middle and high income groups save

The interim budget has proposed to give full rebate to those earning up to Rs 5 lakh anuualy. This will send an estimated 3 crore taxpayers out of the tax net. At present, those earning up to Rs 3.5 lakh a year are eligible for a tax rebate of Rs 2,500 under Section 87A. The budget has proposed to increase rebate Rs 12,500.

Here's a look at how much tax people in various income groups will save due to the Budget proposals.

How much tax will you save?

Income between Rs 2.5 lakh and Rs 5 lakh

Particulars	Pre-budget	Post-budget
Income from salary	3,60,000	3,60,000
Less: Standard deduction	-40,000	-50,000
Taxable salary	3,20,000	3,10,000
Tax on above	1,040	0
Less: Rebate u/s 87A	1,040	0
Final tax payable (including cess)	0	0
Tax Saved	1,040

Income between Rs 5 lakh and Rs 6 lakh

Particulars	Pre-budget	Post-budget
Income from salary	5,50,000	5,50,000
Less: Standard deduction	-40,000	-50,000
Taxable salary	5,10,000	5,00,000
Tax on above (including cess)	15,080	0
Tax Saved	15,080

Income between Rs 6 lakh and Rs 10 lakh

Particulars	Pre-budget	Post-budget
Income from salary	8,50,000	8,10,000
Less: Standard deduction	40,000	50,000
Taxable salary	8,10,000	8,00,000
Tax on above (including cess)	77,480	75,400
Tax Saved	2,080

Income above Rs 10 lakh

Particulars	Pre-budget	Post-budget
Income from salary	10,50,000	10,50,000
Less: Standard deduction	40,000	50,000
Taxable salary	10,10,000	10,00,000
Tax on above (including cess)	1,20,120	1,17,000
Tax Saved	3,120
For income above Rs 50 lakh	3,422
For income above Rs 1 crore	3,588

All figures in Rs
Calculations by: Cleartax.com