Applicability of New Tax Slab


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Quick Summary
The discussion clarifies the applicability of the new tax slab announced in the budget. It's confirmed that the new tax slab is applicable from the financial year starting 01.04.2020, which corresponds to FY 2020-21 and Assessment Year (AY) 2021-22. This means it does not apply to Budget 2019, FY 19-20, or AY 20-21.

(Querist)
14 February 2020 Please inform that new tax slab announced in budget will applicable from which date? From which financial year optional slab is available?

14 February 2020 this is for AY 20-21 AND FY 19-20

swasti (Expert)
14 February 2020 No, Finance Bill 2020 is for FY starting from 01.04.2020, i.e. FY 2020-21 and AY 2021-22

15 February 2020 i thought he is asing for budget 2019




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