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Income Tax Slab Rates for Individual 1st April 2019 to 31st March 2020

Income Tax Slab Rates for Individual 1st April 2019 to 31st March 2020



Income Tax Slab Rates for Individual 1st April 2019 to 31st March 2020


A. Income Tax Slab below Age 60 years:

Sr. No.

Income

Tax rate

1

Up to ₹ 2,50,000/- Lakhs

Nil

2

From ₹ 2,50,001 to ₹ 5,00,000

5% on Income above ₹ 2.5 Lakhs + 4% cess on Tax

3

From ₹ 5,00,001 to ₹ 10,00,000

20% on Income above ₹ 5 Lakhs + ₹ 12,500 + 4% cess on Tax

4

Above ₹ 10 Lakhs

30% on Income above ₹ 10 Lakhs + ₹ 1,12,500 + 4% cess on Tax



B. 2. Income Tax Slab for the Age between 60-80 years:

Sr. No.

Income

Tax rate

1

Up to ₹ 3,00,000/- Lakhs

Nil

2

From ₹ 3,00,001 to ₹ 5,00,000

5% on Income above ₹ 3 Lakhs + 4% cess on Tax

3

From ₹ 5,00,001 to ₹ 10,00,000

20% on Income above ₹ 5 Lakhs + ₹ 10,000 + 4% cess on Tax

4

Above ₹ 10 Lakhs

30% on Income above ₹ 10 Lakhs + ₹ 1,10,000 + 4% cess on Tax



C. Income Tax Slab above Age 80 years:


Sr. No.

Income

Tax rate

1

Up to ₹ 5,00,000/- Lakhs

Nil

2

From ₹ 5,00,001 to ₹ 10,00,000

20% on Income above ₹ 5 Lakhs + 4% cess on Tax

3

Above ₹ 10 Lakhs

30% on Income above ₹ 10 Lakhs + ₹ 1,10,000 + 4% cess on Tax



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