Income Tax Slab Rates for 2020-21, Income Tax Rates FY 2019-2020

Earnings Tax Piece Rates for 2020– 21, Earnings Tax Rates for FY 2019-2020 Check newest Earnings Tax Piece rates Get earnings tax slab rates for FY 2019-2020 & AY 2020-2021 and earnings tax reductions in India for Financial Year 2019-2020(Assessment Year 2020-2021) post Union Spending plan2020

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Earnings Tax Piece Rates for Women’s, Income Tax Slab Rates for Men’s, Earnings Tax Piece Rates for Elder Citizens, Income Tax Slab Rates for Super Senior citizen People, etc. Now you can scroll down and examine more details about “ Earnings Tax Piece Rates AY 2019-2020, FY 2016-17 ″ from listed below …

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Income Tax Slab Rates AY 2020-21

Earnings Tax Slab Rates for People:

1.1 Person (homeowner or non‐resident), who is of the age of less than 60 years on the last day of the appropriate previous year:

Net income Variety Income-Tax Rate *
Up to Rs. 5,00,00 0– 10,00,00 0 20%
Above Rs.

  • Resident senior cizen, i.e., every person, being a resident in India, who is of the age of 60 years or more however less than 80 years at any me during the previous year:
Net earnings Variety Income-Tax Rate *
Up to Rs. 5,00,00 0– 10,00,00 0 20%
Above Rs.

  • Homeowner very senior citizen, i.e., every person, being a homeowner in India, who is of the age of 80 years or more at any me during the previous year:
Net income Range Income-Tax Rate *
Up to Rs. 5,00,00 0 Nil
Rs. 5,00,00 0– 10,00,00 0 20%
Above Rs. 10,00,00 0 30%

Surcharge:

  • 10% of earnings tax where total income surpasses Rs.
  • 15% of income tax where overall earnings surpasses Rs.

    Health and Education cess:

    • 4% of income tax and additional charge.

    Note:– A resident individual is entitled for rebate under area 87 A if his total earnings does not surpass Rs. 5,00,00 0.

    2. Co-operative Society:

    Where the gross income does not surpass Rs 10,00 0 10%
    Where the gross income exceeds Rs 10,00 0 however does not surpass Rs 20,00 0. Rs.1,00 0 20% of earnings in excess of Rs. 10,00 0.
    Where the taxable income exceeds Rs. 20,00 0 Rs 3,00 0 30% of the amount by which the gross income goes beyond Rs.20,00 0

    Plus:–LRB-

    • Additional Charge: 12% of the Earnings Tax if gross income exceeds Rs 1 crore.
    • Education Cess: 4% of the overall of Income Tax and Additional Charge.

    Company/ Regional Authority

    • Earnings Tax: 30% of gross income

    Plus:–LRB-

    • Additional Charge: 12% of the Earnings Tax if taxable income goes beyond Rs 1 crore.
    • Education Cess: 4% of the overall of Income Tax and Additional Charge.

    Domestic Company:

    • Income Tax: 30%– Other domestic companies
    • Income Tax: 25%– Overall turnover or gross invoices during the previous year 2017-18 does not exceed Rs. 250 Crore

    Plus:–LRB-

    • Surcharge 7% of the Income-tax if gross income surpasses Rs 1 crore.
    • Surcharge 12% of the Income-tax if taxable income surpasses Rs 10 crore.
    • Education Cess: 4% of the overall of Income Tax and Surcharge.

    Foreign Company:

    • Income Tax: 40% of gross income

    Plus:–LRB-

    • Additional Charge 2% of the Income-tax if taxable income goes beyond Rs 1 crore.
    • Additional Charge 5% of the Income-tax if gross income exceeds Rs 10 crore.
    • Education Cess: 3% of the overall of Income Tax and Surcharge.

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