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Tax Slabs
1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person
| Assessment Year 2020-21 | |
|---|---|
| Taxable Income Tax Rate | |
| Up to Rs. 2,50,000 | Nil |
| Rs. 2,50,000 to Rs 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Less: Rebate under Section 87A
Add: Health and Education Cess
Add: Health and Education Cess
2. In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)
| Assessment Year 2020-21 | |
|---|---|
| Taxable Income Tax Rate | |
| Up to Rs. 3,00,000 | Nil |
| Rs. 3,00,000 to Rs 5,00,000 | 5% |
| Rs. 5,00,000 to Rs. 10,00,000 | 20% |
| Above Rs. 10,00,000 | 30% |
Add: Surcharge and Education Cess
