income tax slabs for the financial year 2020-21
Income tax slabs in India for the assessment year 2021-2022 which means for the financial year 2020-2021
Income tax slabs for the assessment year 2021-22.
income tax slabs for the assessment year 2021-22
Individuals & HUF within the age of 60 years\
INCOME TAX SLABS |
TAX RATE |
CESS |
Income upto Rs.2,50,000 |
No Tax |
|
Income from Rs.2,50,000 - 5,00,000 |
5% |
4% of Icome Tax |
Income from Rs.5,00,000 - 10,00,000 |
20% |
4% of Icome Tax |
Income from Rs.10,00,000 and above |
30% |
4% of Icome Tax |
Income Tax for Senior Citizens above 60 years and below 80 years
INCOME TAX SLABS |
TAX RATE |
CESS |
Income upto Rs.3,00,000 |
No Tax |
|
Income from Rs.3,00,000 - 5,00,000 |
5% |
4% of Icome Tax |
Income from Rs.5,00,000 - 10,00,000 |
20% |
4% of Icome Tax |
Income from Rs.10,00,000 and above |
30% |
4% of Icome Tax |
Income Tax for Senior Citizens above 80 years
INCOME TAX SLABS |
TAX RATE |
CESS |
Income upto Rs.5,00,000 |
No Tax |
|
Income from Rs.5,00,000 - 10,00,000 |
20% |
4% of Icome Tax |
Income from Rs.10,00,000 and above |
30% |
4% of Icome Tax |
Basing on the income tax slabs, one needs to plan their savings prior to the due date.