Income tax slab section

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This discussion clarifies the income tax slab structure, referencing Part-1 of the first schedule to the Finance Act. It also identifies Section 285BA, read with rule 114E, as the regulation limiting cash deposits exceeding £10 lakh in savings accounts. Specific tax rates for different income brackets are also provided for individuals.

karan kumar

karan kumar (Querist)
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21 January 2020 Dear Experts!
Pls let me know the income tax slab in which section or rule is defined,

2) also let me know the section which restrict the cash deposit exceed 10 Lakh in saving account.

Thanks
Karan

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 January 2020 1. Part-1 of first schedule to the Finance Act.

2. Section 285BA r.a.w rule 114E

karan kumar

karan kumar (Querist)
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21 January 2020 Sir! As per part I of first schedule of finance act. 2019, the where the total income does not exceed 250000 NiL
From 5 Lakh to 10 Lakh 20%
From exceed 10 Lakh 30% for individual other than senior citizen & super senior citizens.

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