Income Tax Slabs are differentiated based on the Tax Status, Gender and Age of Individual Tax Payer
Income Tax Slab Rates for an Individual Upto the Age of 59 Years for both Male and Female or an HUF (Hindu Undivided Family) in Financial Year (2019-2020) Assessment Year (2020-2021).
| Taxable Income Range | Tax Rate in % |
|---|---|
| 0- 2,50,000 | NIL |
| 2,50,001 – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| 10,00,001 and Above | 30% |
Income Tax Slab Rates for an Individual 60 Years Above and below the Age of 80 Years for both Male and Female in Financial Year (2018-2019) Assessment Year (2019-2020)
| Taxable Income Range | Tax Rate in % |
|---|---|
| 0- 3,00,000 | Nil |
| 3,00,001 – 5,00,000 | 5% |
| 5,00,001 – 10,00,000 | 20% |
| 10,00,001 and Above | 30% |
Income Tax Slab Rates for an Individual 80 Years Above for both Male and Female in Financial Year (2018-2019) Assessment Year (2019-2020)
| Taxable Income Range | Tax Rate in % |
|---|---|
| 0 – 5,00,000 | Nil |
| 5,00,001 – 10,00,000 | 20% |
| 10,00,001 and Above | 30% |
Surcharge :
- For Income of 50,00,001 (50 Lakhs) and above Less than 1,00,00,000 ( 1 Crore) a Surcharge of 10% on Income Tax is Charged.
- For Income of 1,00,00,001 and above a Surcharge of 15% on Income Tax is Charged.
Higher Education and Secondary Cess: 4 % on Income Tax and Surcharge is Charged.
Due Date: 31st July 2020 is the Last date to file the Income Tax Return for an Individual or HUF
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