What is f. y 2019 -20 Tax slab
ARVIND (ACCOUNTANT) (131 Points)
17 April 2020
please tell me exemption limit 2019-20 tax slab rate
2 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 17 April 2020
Tax slabs are same as that of FY-2018-19 unless you opt for new tax regime
Shivam RC
(Student)
(23683 Points)
Replied 17 April 2020
Yes, there is no change in Tax slab for FY 2019-20.
For Individuals whose Age is less than 60 Years :
Upto Rs. 2,50,000 : EXEMPTED.
Next Rs. 2,50,000 @ 5%.
Next Rs. 5,00,000 @ 20%.
Balance is Taxable @ 30%.
HEALTH & EDUCATION CESS @ 4% is levied.
For RESIDENT SENIOR CITIZEN ( Age 60 yrs and above but less than 80 yrs ) :
Upto Rs. 3,00,000 : EXEMPTED.
Rs. 3,00,001 to 5,00,000 @ 5%
Rs. 5,00,001 to 10,00,000 @ 20%
Above Rs. 10,00,000 @ 30%.
HEALTH & EDUCATION CESS @ 4% is levied.
For Individuals whose Age is less than 60 Years :
Upto Rs. 2,50,000 : EXEMPTED.
Next Rs. 2,50,000 @ 5%.
Next Rs. 5,00,000 @ 20%.
Balance is Taxable @ 30%.
HEALTH & EDUCATION CESS @ 4% is levied.
For RESIDENT SENIOR CITIZEN ( Age 60 yrs and above but less than 80 yrs ) :
Upto Rs. 3,00,000 : EXEMPTED.
Rs. 3,00,001 to 5,00,000 @ 5%
Rs. 5,00,001 to 10,00,000 @ 20%
Above Rs. 10,00,000 @ 30%.
HEALTH & EDUCATION CESS @ 4% is levied.
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