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.
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?