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Income tax slap for fy 19-20
I want to know income tax slap for the fy 19-20. If any standard deduction. 80 c deduction.
Replies (5)
Quick Summary
Income Tax Slab 2019-20
| Income range per annum | Tax Rate as per Old Regime | Tax Rate as per New Regime |
|---|---|---|
| Upto ₹ 2.50 Lakh | No Tax | No tax |
| ₹ 2.50 Lakh – ₹ 5 Lakh | 5% | 5% |
| ₹ 5 Lakh – ₹ 7.50 Lakh | 20% | 10% |
| ₹ 7.50 Lakh – ₹ 10 Lakh | 20% | 15% |
| ₹ 10 Lakh – ₹ 12.50 Lakh | 30% | 20% |
| ₹ 12,50,000 – ₹ 15,00,000 | 30% | 25% |
| Above ₹ 15,00,000 | 30% | 30% |
Standard deduction
Increased to Rs 50,000 for FY 2019-2020 (AY 2020-21)
The 80C Deduction limit is same as PY 18-19. No changes introduced for 80C limit for FY/PY 19-20. The overall limit is Rs. 1,50,000/-
BTW, your question is very nice - Income tax slap for 2019-20.
and coincidentally, this year it was more like a slap only.
on the lighter node only
and coincidentally, this year it was more like a slap only.
on the lighter node only
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