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Tax rate&comparison for financial year 2020-21

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29 Points Posted on 12 January 2021
please clarify and compare tax rate for financial year 2020-21so that an employee having gross salary 900000per year 150000 saving may get benefit
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On 12 January 2021 at 15:24 Report
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My grammar is 💯 good I
7301 Points Posted on 12 January 2021

7.5- 10 lacs is 15%

https://cleartax.in/s/income-tax-slabs

I hope this helps

15 Reply
On 12 January 2021 at 17:11
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17264 Points Posted on 12 January 2021
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.
101 Reply
On 12 January 2021 at 17:30
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Tax consultant
5895 Points Posted on 12 January 2021
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
57 Reply
On 12 January 2021 at 17:46
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17264 Points Posted on 12 January 2021
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.
101 Reply
On 12 January 2021 at 19:26


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