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Tax rate&comparison for financial year 2020-21
please clarify and compare tax rate for financial year 2020-21so that an employee having gross salary 900000per year 150000 saving may get benefit
Replies (4)
This requires calculation under both scheme of taxation in order to ascertain which one is beneficial. However, once you opt from new or old, you have to continue it for future years.
First calculate in old tax form with Deduction see in which slab rate you are
then again in new tax form with out Deduction see in which slab you are
choose the one that benifitted you
choose wisely as you can not change after it for future
then again in new tax form with out Deduction see in which slab you are
choose the one that benifitted you
choose wisely as you can not change after it for future
On efiling site, a calculator tool is provided to compute under old and new scheme of taxation. just put figures and know result. it's very useful.
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