Central Government Employees Latest News

8th Pay Commission Latest News Today, Pay Matrix, Expected DA Rates Table

You are here: Home / INCOME TAX / Income Tax Deduction from Salaries in 2020-21 Under Section 192 of Income Tax Act 1961
Latest 8th CPC News
Salary Calculator Updated 2025
DA July 2025 Calculator
New HRA Rates 2025
New Transport Allowance Rates
CG First Pay Calculator

Income Tax Deduction from Salaries in 2020-21 Under Section 192 of Income Tax Act 1961

December 7, 2020 admin Leave a Comment

The Department of Revenue published a detailed notification about the deduction of Income Tax from salaries during the financial year 2020-21 with latest Income Tax Rates Table.

F.No.275/19212020-IT(B)
Government of India
Ministry of Finance
Deportment of Revenue
Central Board of Direct Taxes

North Block. New Delhi
Dated the 3th December 2020

SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2020-21 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.

Reference is invited to Circular No. 4/2020 dated 16.01.2020 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of the Income-tax Act. 1961 (hereinafter ‘the Act). during the financial year 2019.20. were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2020-21 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). All the sections and rules referred arc of Income-tax Act. 1961 and Income-tax Rules, 1962 respectively unless otherwise specified. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department www.incometaxindia.gov.in

2. RATES OF INCOME-TAX AS PER FINANCE ACT, 2020:

As per the Finance Act, 2020, income-tax is required to be deducted under Section 192 of the Act from income chargeable under the head “Salaries” for the financial year 2020-21 (i.e. Assessment Year 2021-22) at the following rates:

2.1 Rates of Tax

A. Normal Rates of Tax

SI
No
Total Income Rate of tax
1 Where the total income does not exceed Rs. 2.50.000/-. Nil
2 Where the total income exceeds Rs. 2.50.000/- but does not exceed Rs. 5,00,000/-. 5 per cent of the amount by which the total income exceeds Rs. 2,50,000/-
3 Where the total income exceeds Rs. 5.00.000/- but does not exceed Rs. 10,00,000/-. Rs. 12.500/- plus 20 per cent of die amount by which the total income exceeds Its. 5.00.000/-.
4 Where the total income exceeds Rs. 10,00,000/- Rs. 1,12,500/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00.000/-

B. Rates of tax for every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the financial year:

SI No Total Income Rate of tax
1 Where the total income does not exceed Rs. 3.00,000/- Nil
2 Where the total income exceeds Its. 3,00.000 but does not exceed Its. 5,00,000/- 5 per cent of the amount by which the total income exceeds Rs. 3,00,000/-
3 Where the total income exceeds Its. 5,00.000/- but does not exceed Rs. 10,00,000/- Rs. 10,0001- plus 20 per cent of the amount by which the total income exceeds Rs. 5.00.000/-.
4 Where the total income exceeds Its. 10.00.000/- Rs. 1.10.000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10.00.000/-

C. In ease of even individual, being a resident in India, who is of the age of eighty years or more at any time during the financial year:

SI No Total Income Rate of tax
1 Where the total income does not exceed Rs. 5,00,000/- Nil
2 Where the total income exceeds Its. 5.00.000 but does not exceed Rs. 10.00.000/- 20 per cent of the amount by which the total income exceeds Its. 5,00.000/-
4 Where the total income exceeds Rs. 10.00.000/- Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Its. 10,00,000/-

 Click to View or PDF Download the Latest Income Tax Rates Table 2020-21

Related updates:

    Income Tax Online Calculator for Salaried (Government) Employees

Filed Under: INCOME TAX

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Online Calculators

  • 7th Pay Commission Salary Calculator January 2025 (55% DA Updated)
  • Expected DA from July 2025 Calculator
  • Pay Scale Conversion Calculator
  • 7th CPC Increment Calculator 2025
  • KVS PGT, TGT, PRT Teacher Salary Calculator 2025
  • Bonus Calculator for CG Employees 2025
  • CGEGIS Savings Fund Benefit Calculator Updated 2025
  • Central Government First Pay Calculator 2025
  • Retirement Date Calculator for CG Employees
  • DA Arrears Calculator January 2025 (55% Updated)
  • Commutation Factor Value of Pension Calculator
  • Leave Encashment of CG Employees Calculator
  • HRA Income Tax Exemption Calculator for Salaried Employees
  • 7th CPC Pension and Arrears Calculator
  • Fixation of Pay on Promotion Calculator as per FR 22(I)(a)(1)
  • 7th CPC Pay Calculator for Teachers in Universities and Colleges
  • 18 Months DA Arrears Calculator for CG Employees
  • 18 Months DA Arrears Calculator for CG Pensioners
  • 7th CPC TA & DA Calculator
  • Government Pension Calculator 2025
  • CPSE (IDA Pay Scale) Salary Calculator
  • DA Amount Calculator Online 2024
  • Dearness Relief (DR) Calculator for Pensioners
  • Expected January 2024 IDA Calculator for BSNL Employees
  • Expected IDA Calculator from April 2024 for CPSE Employees
  • GPF Interest Rate Calculator
  • HRA Online Calculator
  • LTC Cash Voucher Scheme Calculator
  • Option Calculator for Promotion or MACP to Switch over to 7th CPC
  • OROP Arrears Calculator for Defence Pensioners
  • Simple Online New & Old Regime Income Tax Calculator

State Govt Calculators

  • Maharashtra Govt 7th Pay Commission Calculator
  • Karnataka Pension and Family Pension Calculator
  • Option for Fixation Calculator for Tamil Nadu Govt Employees
  • Pay Calculator for Jammu & Kashmir Govt Employees
  • Pay Scale Calculator for Karnataka Govt Employees
  • Rajasthan Employees Pay Matrix Calculator
  • Tamil Nadu Govt Employees Pay Calculator
  • WB 6th Pay Commission Revised Pay Calculator

Top Pages

  • Pay Matrix Table for Central Government Employees
  • 7th CPC DA Calculation Table 2016 to 2025
  • DA Rates Table 2025 | Current DA Rate 53%
  • CSD Price List 2025: Car, Bike, Scooter, AC, TV, WM and Fridge
  • Kendriya Vidyalaya Fee Structure 2025-26
  • Kendriya Vidyalaya Balvatika School Admission Form 2025-26
  • 7th CPC Briefcase Allowance 2025

8th Pay Commission News

  • Latest 8th Pay Commission News Date, Salary Slab, Pay Scale Calculator
  • Expected 8th Pay Commission Pay Matrix Table

Latest Discussions

  • M K KUMAR on 7th CPC MACP Scheme | Latest Clarification on MACP Scheme
  • Md F Akhtar on 7th CPC MACP Scheme | Latest Clarification on MACP Scheme
  • A V Nayak on AMA Doctor List for Central Government Employees
  • Mandi B on Examples of Calculation of Pension/Family Pension as per OM issued on 12.5.2017 by Pensioners Portal
  • Mandi B on Examples of Calculation of Pension/Family Pension as per OM issued on 12.5.2017 by Pensioners Portal
  • M K KUMAR on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
  • RAJESH KUMAR SINGH on CGHS Ranchi Approved Hospital List
  • S.A.Alisha on FR & SR Rules – What says Rules regarding increment..!
  • Soumya Mukherjee on CGHS Kolkata Approved Hospital 2024 List
  • Siva on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
Copyright © 2023 | Central Government Employees News | 7th Pay Commission News | Sitemap | Site maintained by TEUT Digital Concepts