Income-tax Act, 1961
Section - 115BAC - Tax on income of individuals , Hindu undivided family and others
Tax on income of individuals 34[, Hindu undivided family and others].115BAC. (1) Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, the income-tax payable in respect of the total income of a person, being an individual or a Hindu undivided family, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2021 35[but before the 1st day of April, 2024], shall, at the option of such person, be computed at the rate of tax given in the following Table, if the conditions contained in sub-section (2) are satisfied, namely:-TABLE
| Sl. No. | Total income | Rate of tax |
| (1) | (2) | (3) |
| 1. | Upto Rs. 2,50,000 | Nil |
| 2. | From Rs. 2,50,001 to Rs. 5,00,000 | 5 per cent |
| 3. | From Rs. 5,00,001 to Rs. 7,50,000 | 10 per cent |
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