Menu
Income tax slab for AY 20-21
What is the income tax slab for salaried individual for AY 20-21?
Replies (1)
1. Income Tax Slab Rate for AY 2020-21 for Individuals:
1.1 Individual (resident or non-resident), who is of the age of less than 60 years on the last day of the relevant previous year:
|
Net income range |
Income-Tax rate |
|
Up to Rs. 2,50,000 |
Nil |
|
Rs. 2,50,000- Rs. 5,00,000 |
5% |
|
Rs. 5,00,000- Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
1.2 Resident senior citizen, i.e., every individual, being a resident in India, who is of the age of 60 years or more but less than 80 years at any time during the previous year:
|
Net income range |
Income-Tax rate |
|
Up to Rs. 3,00,000 |
Nil |
|
Rs. 3,00,000 – Rs. 5,00,000 |
5% |
|
Rs. 5,00,000- Rs. 10,00,000 |
20% |
|
Above Rs. 10,00,000 |
30% |
Plus: -
Surcharge: - 10% of income tax where total income exceeds Rs. 50,00,000.
15% of income tax where total income exceeds Rs. 1,00,00,000.
Health and Education cess: - 4% of income tax and surcharge.
Note: - A resident individual is entitled for rebate under section 87A if his total income does not exceed Rs. 5,00,000. The amount of rebate shall be 100% of income-tax or Rs. 12,500, whichever is less.
Recent Topics :
- Investment fund's income from ncd distribution to
- Cialis 20 mg – General Information About Tad
- Comparative BS PL with Audit report
- Source of funds in IT returns
- Work from home job
- TDS ON ANY PURCHASE OF ANY GOODS - 393(1)
- TDS on payment to a non resident
- NSFA(National Food Security Act) commission
- RCM applicability on petty GTA freight (₹450
- Short payment reccieved in export & GST implic
Related Topics :
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
