New income tax slab rates announced in Budget 2020

New income tax slab rates announced in Budget 2020

New Income Tax Rate if no deduction and exemption is availed for FY 2020-21, AY 2021-22

  • 5-7.5 Lakh – 10%
  • 7.5 – 10 Lakh – 15%
  • 10 – 12.5 Lakh – 20%
  • 12.5 – 15 Lakh – 25%

Those earning up to Rs 5 lakh in a year will pay no tax.

Tax rate of 30% on income above Rs 15 lakh will be continued  Â

income tax

 

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