Latest Income Tax Slab Rates for F.Y 2020-2021 i.e A.Y 2021-22
If you are claiming deductions & Exemptions
| Income Slab | Individuals (Aged below 60 Years) |
|
||||||||||||||||
| Senior Citizens (Aged 60 Yrs and above but below 80 Yrs) | ||||
|
||||||||||||
| Super Senior Citizens (Aged 80 yrs and Above) | ||||
|
|||||||||||||||
|
If You are NOT Claiming Deductions & Exemptions |
|||
| Senior Citizens (Aged 60 Yrs and above but below 80 Yrs) | |||
|
|
Any individual opting to be taxed under the new tax regime from FY 2020-21 onwards will have to give up certain exemptions and deductions.
Additional Note : 1) Surcharge : 10% of income Tax where total income Exceeds Rs.50,00,0000 /- 2) 15% of income Tax where total Income Exceeds Rs. 1,00,00,000 /- 3) Health and education Cess - 4% of Income Tax & Surcharge 4) Rebate 87A : If the Net Total Income of the Resident Individual is upto Rs.500,000/- Rebate u/s 87A is allowed Maximum upto 12,500/- or the amount of tax whichever is lower. 5) Cess will be added after deducting Rebate u/s 87A. |
CAclubindia
