- Individual earning upto Rs 5 lakh is Exemption.
- Income between Rs 5 lakh to Rs 7.5 lakh, will have to pay 10%.
- Income between 7.5 lakh to 10 lakh, will have to pay 15%
- Income between 10 lakh to 12.5 lakh. will have to pay 20%.
- Income between Rs 12.5 lakh to Rs 15 lakh will have to pay 25%.
- Income above Rs 15 lakh will have to pay 30%.
Important Notes :
New slab rates is optional in the hands of tax payer.
No exemptions, deductions shall be allowed under new tax regime.
One thought on “Individual Income Tax Rates FY 2020-21”
Comments are closed.
R