Salary expected to rise to Rs 14 lakh after appraisal this year? You won't be able to save much on tax
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New tax regime: What happens if you get a raise on salary of Rs 12.75?
If your boss awards you a 10% hike on Rs 12.75 lakh, your income would rise to approximately Rs 14 lakh a year. In this case, the tax department would deduct around Rs 82,000, leaving you with approximately Rs 13.18 lakh in hand. While this reflects a modest increase, it may not feel significant.
Latest Income Tax Slab and Rates — FY 2025-26 (AY 2026-27) | FY 2024-25 (AY 2025-26)
If your bosses are even more impressed and grant you a 20% hike on Rs 12.75 lakh, bringing your income to about Rs 15.3 lakh, your tax liability could rise to roughly Rs 1.02 lakh. This would leave you with around Rs 14.27 lakh after taxes, resulting in less take-home pay than you might have initially expected, according to the Times of India (ToI) paper.
Tax rebate under Section 87A
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