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Is upto 5 lakh nil tax ?

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94 Points Posted on 03 February 2020
Is income upto 5 lakh tax free in the financial year 2020-21
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On 03 February 2020 at 22:04 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 03 February 2020
May be Yes...



(Note : Budget related details will be just based on budget. It's confirm after passing GO/Notifications/Orders...
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On 03 February 2020 at 22:15
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Studwnt
1141 Points Posted on 03 February 2020
It is nil provided you have your income upto 5 lakhs...if not then rebate u/s87a is not available and therefore upto 2.5 lakh will be nil.
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On 03 February 2020 at 22:51
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17264 Points Posted on 04 February 2020
Under old tax regime, nil tax if income below or upto 5 lakhs. (considering rebate under 87A)

Under new tax regime tax is 5% between 250001/- to 500000/-
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On 04 February 2020 at 10:16


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