How Budget 2017 affects individual taxpayers in different income slabs

Here's how Budget 2017 affects individual taxpayers in different income slabs. Different income slabs considered are:

High income taxpayer
Salaried professional with home loan
Salaried taxpayer
Senior citizen taxpayer
Low income earner



High income taxpayer
Madhumita Sen, 41
Location: Gurgaon
Occupation: HR professional

Taxable annual income: Rs 30.8 lakh
Deductions claimed: Rs 1.5 lakh under Sec 80C

Existing Tax: Rs 7.25 lakh After budget: Rs 7.12 lakh
Savings In Tax: Rs 12,875

Salaried professional with home loan

Rahul Nadarajan, 31
Location: Mumbai
Occupation: IT professional

Taxable annual income : Rs 15 lakh
Deductions claimed:
Rs 1.5 lakh under Sec 80C
Rs 2 lakh under Sec 24
Rs 30,000 under Sec 80D

Existing Tax: Rs 1.66 lakh
After Budget: Rs 1.53 lakh
Savings In Tax: Rs 12,875



Tax impact at different income levels


Salaried taxpayer
Nishant Gupta, 31
Location: Bengaluru
Occupation: Salaried professional

Taxable annual income: Rs 20.3 lakh
Deductions claimed:
Rs 1.5 lakh under Sec 80C
Rs 20,000 under Sec 80D

Existing Tax: Rs 3.95 lakh
After Budget: Rs 3.82 lakh
Savings In Tax: Rs 12,875



Senior citizen taxpayer
Loknath Bhatia, 67
Location: Delhi
Occupation: Retired

Taxable annual income: Rs 8.6 lakh
Deductions claimed:
Rs 1.5 lakh under Sec 80C

Existing Tax: Rs 58, 710
After Budget: Rs 45,835
Savings In Tax: Rs 12,875



Low income earner
Mukund Dalal, 51
Location: Mumbai
Occupation: Marketing professional

Taxable annual income: Rs 7.2 lakh
Deductions claimed:
Rs 1.5 lakh under Sec 80C
Rs 50,000 under Sec 24
Rs 15,000 under Sec 80D

Existing Tax: Rs 26,780
After Budget: Rs 13,905
Savings In Tax: Rs 12,875