This discussion outlines the income tax slabs for individuals for Assessment Year 2020-21, corresponding to the Financial Year 2019-20. It details the tax rates for various income brackets, starting with nil tax up to Rs. 2,50,000, followed by 5%, 20%, and 30% for higher income levels. The information also highlights increased basic exemption limits for senior and super senior citizens and mentions potential surcharges or rebates based on total income.
For A.Y 2020-21 (F.Y 2019-20) Up to Rs. 2,50,000....................Nil Rs. 2,50,001 to 5,00,000......... 5% Rs. 5,00,001 to 10,00,000........20% above Rs. 10,00,000................ 30%
Upto 250000. nil then 250000 to 500000. 5 % then 500000to 10lakh 20% then above 10 lakh. 30% he can take rebate if his or income don't exceed 5lakh btw why you write AY 2021
0-2,50,000- Nil 2,50,000-5,00,000-5% 5.00.000-10,00,000-20% > 10,00,000-30% However if the Assessee is resident and senior citizen - Basic exemption limit -3,00,000 and if super senior citizen -5,00,000 Also depending on total income surcharge may be added or rebate may be deducted
Leave a Reply
Your are not logged in . Please login to post replies