( Two examples ) Gross annual salary 2,40,000 6,00,000 Less: Standard 25,000 - Total taxable income 2,15,000 6,00,000 Tax 38,500 1,54,000 Maximum Section 88 rebate (2001-02) 16,000 16,000 Total tax, 2001-02 (incl. 2% surcharge) 22,950 1,40,760 Maximum Section 88 rebate (2002-03) 8,000 - Total tax , 2002-03 (incl. 5% surcharge) 32,025 1,61,700 Extra tax you will pay in 2002-03 9,075 20,940 Figures in Rs