The slab codes are defined in the table view 

Slab Codes for Taxation (V_T7INT1) for a financial

year/years.

The different taxation slabs for the tax codes are defined in the table view Taxation
Slabs (V_T7INT3).

V_T7INT5-You can use the transaction code SE16 to view the data in this table, and SE11 TCode
for the table structure and definition.

(rarely used)

Exepmtions

Medical Exemption - Exm.under pro.to sec17(2) wage type (/414)

Section 10 Exemptions - Exemption U/S 10 wage type (/130)

The value of Exemption U/S 10 wage type (/130) is the sum of the values of:

CEA Annual Exemption wage type (/4E1) - Exemption on Child Education Allowance

CHA Annual Exemption wage type (/4E2) - Exemption on Child Hostel Allowance

Conveyance Annual Exempt wage type (/4E3) - Conveyance Exemption

HRA Annual Exemption wage type (/4E4) - Exemption on House Rent Allowance

LTA Annual Exemption wage type (/4E5) - Exemption on Leave Travel Allowance

80 C

80 C allows to reduce taxable income by making tax saving investments or incurring eligible
expenses. It allows a maximum deduction of Rs 1.5 lakh every year from the taxpayers total
income.

80C allows deduction for investment made in PPF , EPF, LIC premium , Equity linked saving
scheme, principal amount payment towards home loan, stamp duty and registration charges
for purchase of property, Sukanya smriddhi yojana (SSY) , National saving certificate (NSC) ,
Senior citizen savings scheme (SCSS), ULIP, tax saving FD for 5 years, Infrastructure bonds etc

It is important to note that overall limit including the subsections for claiming deduction is Rs
1.5 lakh except an additional deduction of Rs 50,000 allowed u/s 80CCD(1b)

Education Cess

All employees have to pay an education cess of 2%. Education cess is calculated as 2% of the
sum of tax payable and surcharge. The India Income Tax computations payroll function (INTAX)
calculates and stores the amount of education cess in the Education Cess wage type (/449).

The value of /449 = 2% (/446 + /448).

Secondary and Higher Education Cess

All employees have to pay a secondary and higher education cess of 1%. TheindiaIncome Tax
computations payroll function (INTAX) calculates and stores the amount of secondary and
higher education cess in Sec and Higher Educ Cess wage type (/447).

The value of /447 = 1% (/446 + /448).

 Income tax slab rate for Old Tax regime – FY 2020-21 (AY 2021-
22)

Income Tax Slab Individuals Below The Age Of 60 Years – Income Tax Slabs

Up to Rs 2.5 lakh NIL

Rs. 2.5 lakh -Rs. 5 lakh 5%

Rs 5.00 lakh – Rs 10 lakh 20%

> Rs 10.00 lakh 30%

NOTE:
 Income tax exemption limit is up to Rs 2,50,000 for Individuals , HUF below 60
years aged and NRIs.
 An additional 4% Health & education cess will be applicable on the tax amount
calculated as above.
 Surcharge:
 1. 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1
crore.
2. 15% of income tax, where the total income exceeds Rs.1 crore.

Income tax slab rate FY 2021-22 (AY 2022-23) –

Applicable for New Tax regime

New Regime Income Tax Slab Rates FY 2021-22

Income Tax Slab
(Applicable for All Individuals & HUF)

Rs 0.0 – Rs 2.5 lakh NIL

Rs 2.5 lakh – Rs 3.00 lakh

5% (tax rebate u/s 87a is available)
Rs 3.00 lakh – Rs 5.00 lakh

Rs 5.00 lakh- Rs 7.5 lakh 10%

Rs 7.5 lakh – Rs 10.00 lakh 15%

Rs 10.00 lakhs – Rs 12.50 lakh 20%

Rs 12.5 lakhs – Rs 15.00 lakh 25%

> Rs 15 lakh 30%

 Additional Health and Education cess at the rate of 4 % will be added to the
income tax liability in all cases. (increased from 3% since FY 18-19)
 Surcharge applicable as per tax rates below in all categories mentioned above:
1. 10% of Income tax if total income > Rs.50 lakh
2. 15% of Income tax if total income > Rs.1 crore
3. 25% of Income tax if total income > Rs.2 crore
4. 37% of Income tax if total income > Rs.5 crore