How Change in Tax Slabs will benefit Taxpayers

An individual with an annual income of Rs 9 lakh will be required to pay only Rs 45,000 as tax. This is 5% of income. It is a reduction of 25% on what he/she is required to pay now is Rs 60,000

An individual with an income of Rs 15 lakh would be required to pay Rs 1.5 lakh or 10% of his/her income. It is a reduction of -20% from the existing liability of Rs 1.87 lakh.