Income Tax Slab for Women: Guide to Exemptions and Rebates

In India, every person who earns beyond a certain limit is liable to pay income tax to the government. The tax amount is paid according to the tax slabs announced by the government. However, women taxpayers are often under the impression that they enjoy a higher tax exemption limit than men. Let’s clear this confusion by knowing the income tax slabs for women, rebates and exemption limits.

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    Is Income Tax Slabs Different for Male and Female?

    No.

    At present, the income tax slabs are the same for men and women taxpayers in India. Before 2012-13, women taxpayers use to enjoy a higher tax exemption limit but the same has been done away with. Now, both men and women enjoy the same tax exemption limits and rebates.

    On the contrary, the income tax slabs for all taxpayers depend on their income and their age. While the rate of increase in income tax payable by a person is directly proportional to his/her income, it is inversely proportional to his/her age. This means the higher is the income of a taxpayer, the more is the amount of tax he/she will have to pay. Similarly, the higher is the age of the taxpayer, the lower will be the income tax payable.

    All taxpayers in India have been divided into three categories based on their age:

    • People below 60 years of age
    • Senior citizens or people between 60 to 80 years of age
    • Super senior citizens or people above 80 years of age

    Income Tax Slab for Women (AY 2022-23)

    Check out the income tax slabs for women of different ages for the assessment year 2022-23 as per the old tax regime and new tax regime:

    Income Tax Slabs for Women Below 60 Years (AY 2022-23):

    Income Tax Slabs

    Rate of Income Tax

    Old Tax Regime New Tax Regime
    Up to Rs 2,50,000 Nil Nil
    Rs 2,50,001 to Rs 5,00,000 5% above Rs 2,50,000 5% above Rs 2,50,000
    Rs 5,00,001 to Rs 7,50,000

    Rs 12,500 + 20% above Rs 5,00,000

    Rs 12,500 + 10% above Rs 5,00,000
    Rs 7,50,001 to Rs 10,00,000 Rs 37,500 + 15% above Rs 7,50,000
    Rs 10,00,001 to Rs 12,50,000

    Rs 1,12,500 + 30% above Rs 10,00,000

    Rs 75,000 + 20% above Rs 10,00,000
    Rs 12,50,001 to Rs 15,00,000 Rs 1,25,000 + 25% above Rs 12,50,000
    Above Rs 15,00,000 Rs 1,87,500 + 30% above Rs 15,00,000

    Income Tax Slabs for Women Between 60-80 Years (AY 2022-23):

    Income Tax Slabs

    Rate of Income Tax

    Old Tax Regime New Tax Regime
    Up to Rs 2,50,000

    Nil

    Nil
    Rs 2,50,001 to Rs 3,00,000

    5% above Rs 2,50,000

    Rs 3,00,001 to Rs 5,00,000 5% above Rs 3,00,000
    Rs 5,00,001 to Rs 7,50,000

    Rs 10,000 + 20% above Rs 5,00,000

    Rs 12,500 + 10% above Rs 5,00,000
    Rs 7,50,001 to Rs 10,00,000 Rs 37,500 + 15% above Rs 7,50,000
    Rs 10,00,001 to Rs 12,50,000

    Rs 1,10,000 + 30% above Rs 10,00,000

    Rs 75,000 + 20% above Rs 10,00,000
    Rs 12,50,001 to Rs 15,00,000 Rs 1,25,000 + 25% above Rs 12,50,000
    Above Rs 15,00,000 Rs 1,87,500 + 30% above Rs 15,00,000

    Income Tax Slabs for Women Above 80 Years (AY 2022-23):

    Income Tax Slabs

    Rate of Income Tax

    Old Tax Regime New Tax Regime
    Up to Rs 2,50,000

    Nil

    Nil
    Rs 2,50,001 to Rs 5,00,000 5% above Rs 2,50,000
    Rs 5,00,001 to Rs 7,50,000

    20% above Rs 5,00,000

    Rs 12,500 + 10% above Rs 5,00,000
    Rs 7,50,001 to Rs 10,00,000 Rs 37,500 + 15% above Rs 7,50,000
    Rs 10,00,001 to Rs 12,50,000

    Rs 1,00,000 + 30% above Rs 10,00,000

    Rs 75,000 + 20% above Rs 10,00,000
    Rs 12,50,001 to Rs 15,00,000 Rs 1,25,000 + 25% above Rs 12,50,000
    Above Rs 15,00,000 Rs 1,87,500 + 30% above Rs 15,00,000

    Note: Unlike the old tax regime, women taxpayers who opt for the concessional tax rates under the new tax regime will not be eligible for exemptions and deductions like Section 80C, 80D, HRA and 80TTB.

    Moreover, an additional Health & Education cess of 4% is payable on the income tax amount under both tax regimes.

    Additional Surcharge for Women

    Women taxpayers with an annual taxable income of more than Rs 50 lakh will have to pay an additional surcharge on top of their income tax slab for AY 2022-23. Take a look at the additional surcharge rates applicable as per the annual taxable income:

    Annual Taxable Income Additional Surcharge Rate
    Above Rs 50 lakh to Rs 1 crore 10%
    Above Rs 1 crore to Rs 2 crore 15%
    Above Rs 2 crore to Rs 5 crore 25%
    Above Rs 5 crore 37%

    Note: A maximum of 15% tax surcharge is applicable on income by dividend or under sections 111A, 112A and 115AD.

    Income Tax Rebate for Women

    Resident women taxpayers with a total income of up to Rs 5 lakh are eligible for a rebate of up to 100% of income tax or Rs 12,500, whichever is less, under both tax regimes.

    How is the Taxable Income of a Person Calculated?

    A taxable income of a person is calculated based on the following types of income:

    • Salaried income
    • Income from business and profession
    • Income from house property
    • Income from capital gains
    • Income from other sources, including interest earned on fixed deposits.

    Income Tax Exemptions for Women Taxpayers in India

    Take a look at the income tax exemptions that women taxpayers in India can avail:

    Income Tax Sections Deduction Towards Payment Made to Deduction Limit
    80C
    • Life insurance premium
    • Provident Fund
    • National Savings Certificate
    • Housing Loan Principal
    • Tuition fees
    • Subscription to certain equity shares
    • Other items

    Combined limit of Rs 1,50,000

    80CCC
    • Annuity plan towards Pension Scheme
    80CCD (1) Pension Scheme of Central Government
    80CCD(1B) Pension Scheme of Central Government, excluding deductions claimed under 80CCD (1) Rs 50,000

    80D

    • Health insurance premium
    • Preventive health check-up
    • Rs 25,000 for self/spouse/dependents and parents
    • Rs 50,000 (for senior citizens)
    • Rs 5,000 (for preventive health check-up included in above limits)
    • Medical expenses of a senior citizen if no health insurance premium is paid
    Rs 50,000 for self/spouse/dependents and parents
    80DD Medical treatment or maintenance of a disabled dependent or any amount paid under relevant approved schemes
    • Rs 75,000
    • Rs 1,25,000 if the person has severe disability i.e. 80% or more disabled
    80DDB Medical treatment for specified diseases
    • Rs 40,000 for self and dependents
    • Rs 1,00,000 for senior citizens
    80TTA Interest on savings bank accounts by senior citizens Rs 10,000
    80TTB Interest on deposits by resident senior citizens Rs 50,000
    80U Resident taxpayer with disability
    • Rs 75,000
    • Rs 1,25,000 if the person has severe disability i.e. 80% or more disabled
    80E Interest paid for a loan for higher education Total interest amount paid (for self or dependents)
    80EE Interest paid for a loan for residential house property sanctioned between 1st April 2016 to 31st March 2017 Rs 50,000 on the interest amount
    80EEA Interest paid for a loan for residential house property for the first time sanctioned between 1st April 2019 to 31st March 2022 and not claimed under 80EE Rs 1,50,000 on the interest amount
    80EEB Interest paid for a loan for an electric vehicle sanctioned between 1st April 2019 to 31st March 2023 Rs 1,50,000 on the interest amount
    80G Donations made to listed charitable institutions, funds, etc.
    • 50% or 100% deduction
    • No deduction is allowed if a cash donation of more than Rs 2000 is made
    80GG House rent paid by self-employed or those who do not get HRA as part of salary Whichever is less:
    • Rs 5,000 per month
    • Rent amount minus 10% of total income
    • 25% of the total income
    80GGA Donations made for rural development or scientific research
    • Deduction on the donation amount
    • No deduction is allowed if a cash donation of more than Rs 2000 is made
    80GGC Donations made to an electoral trust or a political party Deduction on the donation amount

    Summing It Up

    Paying income tax for eligible women taxpayers is mandatory under the laws of the country. Not paying income tax can result in confiscation of funds as well as jail imprisonment. Thus, women who have a taxable income must pay income tax every year as per their tax slab.

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