Income per annum

Tax

Surcharge

Total

Upto Rs 50,000

Nil

Nil

-

Rs 50,000 to Rs 60,000

10%

Nil

10%

Rs 60,000 to- Rs 1,50,000

20%

10%

22%

Over Rs 1,50,000

30%

15%

34.5%

Annual income of Rs 2,00,000

Percent of tax

Amount

Rs 60,000 - Rs 50,000 = Rs 10,000

10% of Rs 10,000

Rs 1,000

Rs 1,50,000 – Rs 60,000 = Rs 90,000

22% of Rs 90,000

Rs 19,800

Rs 2,00,000 - Rs 1,50,000 = Rs 50,000

34.5% of Rs 50,000

Rs 17,250

Total tax

Rs 38,050