If income upto 7 lakh is exempted from income tax, then why is there tax calculation table/slabs starting from 3 Lakhs
Ans: For person earning income upto Rs.7 lacs, tax rebate is available upto 25,000. Thus, if you calculate tax liability as per slab rate, tax liability before rebate will be 25000 and after rebate, tax outflow will be NIL