If Mr.ABC's Taxable income is 3Lakh , than his Auditor telling he need to pay 22,000Rs tax in FY 2018-19, so if he invest 50k or 1 Lakh in ELSS Mutual funds, than how much tax he will save ?


Please find the tax calculation for FY 2018-19 and AY 2019-20

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IN your case 250,000 is charged at 5% and 50,000 at 20% assuming 0 Investment in ELSS. Incase of investment of 50,000 in ELSS , 250,000 is calculated at 5%

  • Thanks, If i invest 50k , i can save 23400-13000 = 10,400 , but if i invest 100k [1 lakh ] , than i can save only 23400-10400 = 13,000 , so only 2600 rs more for extra 50k , can you please tell me what is the formula to calculate this ? – USer345738380 Jan 11 at 9:27
  • @USer345738380 have added tax slabs and the rates at which they are charged – onkar Jan 11 at 10:04
  • you are gold, I understood clearly..... – USer345738380 Jan 11 at 10:13

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