New Tax Regime on 12.75 Lacs Salary or 12.76 Lacs or 13 Lacs or 15 Lakhs -Free Income Tax Calculator

Описание: Marginal relief under section 87A in New Tax Regime is a benefit for taxpayers whose salary income slightly crosses the Rs 12.75 lakh limit. It ensures that if your income goes just above this limit, the extra tax you pay is not much higher than the extra income you earned. This prevents a situation where a small increase in income leads to a big jump in tax.

For example ,

1) For 12.75 lacs salary. ₹75000 is Standard deduction. So, on balance 12 lacs, your tax liability would be ₹60000/-. But due to the rebate of ₹60,000/- in new tax regime, your tax liability would be zero.

2) For 12.76 lakhs salary, ₹75000 is Standard deduction. So, on balance 12.01 lacs, your tax liability would be ₹60150/-. But due to marginal tax relief benefit, you would only pay tax of ₹1000+ 4% cess = ₹1040/-.

3) For 13 lakhs salary, ₹75000 is Standard deduction. So, on balance 12.25 lacs, your tax liability would be ₹63750/-. But due to marginal tax relief benefit, you would only pay tax of ₹25000+ 4% cess = ₹26000/-.

4) For 15 lakhs salary, ₹75000 is Standard deduction. So, on balance 14.25 lacs, your tax liability would be ₹93750/-. In this case, there will be no rebate or marginal tax relief benefit, you would pay total tax of ₹93750+ 4% cess = ₹97,500/-.

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