Incom tax rates 2019-20

For individuals rebate has been increased upto RS. 5L if the total income is upto RS. 5L

For the income 6 lakh 80 thousand of a govt. employee, how much will be the tax?

The rebate will be removed and BEL would be again 2.5L

680000 /- is after considering all deductions viz Standard Deduction, Profession Tax, 80C 80D etc Pl clarify.

If it is after taking all deductions then tax would be 50440/-

Kapadia ji kya calculation ki hai apne meri samajh se bhr hai

@ Akash

Tax calculation sahi hai.
Aap ka 680000/- calculation ka details Kya hai ?

5 lakh No tax+ 1.5 lakh 80's relief + 50 thousand standard deduction.

so according to me...there is no tax on income at last 7 lakh...

'No tax upto 5 lakhs' is the wrong conception.
Actually the rebate amount has been increased and not the basic exemption limit. Rebate u/s 87A is given to assessee whose 'Taxable Income' is below 5 lakhs (Which was Rs.3.5L till AY 2018-19). For computing taxable income, you have to deduct all the Chapter VI A deductions i.e 80C, 80D etc and if the resulting figure is below or upto 5 lakhs, you will not have any tax liability. But if the resulting figure is above 5 lakhs, then you have to pay tax in the same way as AY 2018-19 i.e previous year's slab rates.

@ Akash

Your salary 680000/-
Less - standard Deduction. 40000/-
Balance - 640000/-
Less - 80's deduction 150000/-
Balance - 490000/-
Add - Other sources of income
Total taxable income -- less than 5 lakhs

If total less than 5 lakhs then - No tax

Individuals above the age of 80 years are in this slab.

@ Akash

From AY 2020-2021 if taxable income of an individual is upto say 5 lakhs then -
Tax .... Rs 12500/-
Less Rebate u/s 87A ... Rs. 12500/-
Net tax liability ... Rs. Nil

From AY 2020-2021 if taxable income of an individual Senior Citizen is upto say 5 lakhs then -
Tax .... Rs 10000/-
Less Rebate u/s 87A ... Rs. 10000/-
Net tax liability ... Rs. Nil

please be clarified