Income Tax Slabs and Rates – Tax Brackets in India

Income Tax  Slabs and Tax Rate in India for FY 2019-2020 – Income Tax  Slabs and Tax Rate in India for AY 2020-2021

Income Tax Rates FY 2020-21 in India – Revision of IT Rate Slab AY 2021-22

The new and revised Income Tax slab rates for individual taxpayers are categorized in three segments:

• Individuals below age 60 years
• Senior Citizens above age 60 years and below age 80 years
• Super Senior Citizens above age 80 years

Income Tax Rate Slab under new tax regime for all individuals for AY 2021-22

• Up to Rs. 2,50,000: No Tax
• Rs. 2,50,000 to Rs. 5,00,000: 5%*
• Rs. 5,00,000 to Rs.7,50,000: 10%
• Rs. 7,50,000 to Rs. 10,00,000: 15%
• Rs. 10,00,000 to Rs. 12,50,000: 20%
• Rs. 12,50,000 to Rs. 15,00,000: 25%
• Rs. 15,00,000 and above: 30%

*Tax rebate of Rs 12,500 available under section 87A

Income Tax Slab Table 2020-2021

Latest Updates on Income Tax News:

• Special Allowance in India – Rates and Exemption from Income Tax
• Income Tax Calculator – Pre & Post Budget 2017
• Income Tax Calculator AY 2019-20 for Salaried Employees
• Income Tax Employees will observe one day strike on 8.10.2015 – Charter of Demands
• Income Tax Slab Rates for Government Employees
• Income Tax Slabs and Rates – Tax Brackets in India
• Income Tax Slabs and Tax Rate in India for FY 2020-21
• Income Tax Slabs for FY 2017-18 (AY 2018-19)
• List of Guest House of Income Tax Department
• Expected Income Tax Rate Slabs FY 2017-18

Income Tax Latest Updates 2020

• Pension Need To Be Income Tax-free – BPS Demands February 5, 2024
• Income Tax Benefits for Senior and Super Senior Citizens 2023 PDF November 1, 2023
• Income Tax Online Calculator for Salaried (Government) Employees October 22, 2023
• HRA Income Tax Exemption Calculator for Central Govt Employees October 22, 2023
• Guidelines for Retention of Departmental Laptop – Policy and Application Form September 5, 2023
• Clause 10D Life Insurance Policy: Income Tax Act Guidelines (2023) August 24, 2023
• Rate of Exchange for Tax Deduction – Income-tax (17th Amendment) Rules, 2023 August 24, 2023
• Income Tax Rules 2023: Life Insurance Policy Tax Computation August 24, 2023
• TDS in Respect of Mahila Samman Savings Certificate (MSSC) June 12, 2023
• Standard Deduction for Salaried Employees March 24, 2023
• Clarification on NPS Under Income Tax Act 1961 March 13, 2023
• Old Regime Vs New Regime Tax Calculator 2023-24 from Income Tax Department March 9, 2023
• Income Tax on GPF Accumulation Beyond Threshold Limit – CGDA March 7, 2023
• Clarification on Provisions Under Income Tax Pertaining to NPS March 5, 2023
• Rationalization of Income Tax Slabs March 28, 2022
• One-time Relaxation for Verification of Income Tax-Return E-Filed AY 2020-21 December 29, 2021
• Income Tax Circular 2021-22 CPWD PDF Download October 4, 2021
• Income Tax Deduction from Salaries in 2020-21 Under Section 192 of Income Tax Act 1961 December 7, 2020
• Reduction in rate of tax deduction at source (TDS) for the period from May 2020 to March 2021 November 12, 2020
• Income-Tax Exemption for LTC Cash Voucher Scheme October 30, 2020
• Extension of due date of furnishing of Income Tax Returns and Audit Reports October 24, 2020
• Due Date for Income Tax Return for AY 2019-20 Extended to 30 November 2020 October 1, 2020
• One-time relaxation for Verification of tax-returns from AY 2015-16 to 2019-20 which are pending due to non-filing of ITR­V form and processing of such returns July 17, 2020
• New Income Tax Regime Declaration Form 2020-21 PDF Download for Government Employees July 3, 2020
• All ITR Forms for A.Y. 2020-21: Notification issued by CBDT on 29.5.2020 June 1, 2020
• Clarifications in respect of prescribed electronic modes under section 269SU of the Income-tax Act 1961 May 27, 2020
• Last date for filing Income Tax return for AY 2020-21 extended to November 30, 2020 May 14, 2020
• CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to COVID 19 April 19, 2020
• Clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No.2) Act 2019 April 17, 2020
• Payment of salary to employees during the lockdown period can be adjusted against the CSR expenditure? April 13, 2020
• PM Care Fund Donation indicates in Form 16 under section 80G – CBDT Order April 12, 2020
• All Pending Income Tax Refunds Releases immediately up to 5 Lakh April 8, 2020
• Submission of form 15G and 15H to Banks – CBDT Clarification on 3.4.2020 April 5, 2020
• Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 April 1, 2020
• Disability Pension of Armed Forces Exempt from Income Tax February 26, 2020
• 10% of TDS Deduction only on Mutual Fund Dividend February 6, 2020
• Union Budget 2020 – New Personal Income Tax Slab Rates February 1, 2020
• Income Tax Slabs and Tax Rate for Assessment Year 2020-2021 November 18, 2019
• No Need to Submit Additional Documents for PAN Card, Aadhaar is sufficient to apply September 12, 2019
• Income Tax Due Date Extended to all Taxpayers from July to August 2019 July 24, 2019
• NC Staff Side Demand on exemption from payment of income tax to Pensioners July 18, 2019
• Union Budget 2020 – No change in Income Tax Slab July 5, 2019
• Children Education Allowance Income Tax Online Tools for CG Employees June 8, 2019
• Union Budget for 2019-20 on 5th July 2019 June 1, 2019
• CBDT Notification 2019 – Important Amendment in Form 16 April 22, 2019
• IT Returns Cannot be filed without Quoting Aadhaar – CBDT April 4, 2019
• Income upto Rs 5 Lakh to Get Full Tax Rebate February 1, 2019
• Rates of Income Tax for FY 2019-20 – Finance Bill 2019 February 1, 2019
• Highlights Of Interim Budget 2019-20 February 1, 2019
• Interim Budget 2019: No Need to Pay Income Tax up to 5 Lakh February 1, 2019
• TDS on Income from Pension and Family Pension January 12, 2019
• Income Tax Circular 2019 – Tax Deduction from Salaries with Illustrations January 12, 2019
• Income Tax Circular 2019 – Income Tax Rates AY 2019-20 January 12, 2019
• No TDS upto 50,000 for Senior Citizen – CBDT Notification Dt. 6.12.2018 December 11, 2018
• Pension Exempt from Income Tax – BPS writes to FM November 25, 2018
• Extension of date for filing of Income Tax Returns for taxpayers in Kerala August 29, 2018
• Tax Relaxation on NPS Maturity Value August 14, 2018
• Income Tax Refunds – Parliament Q&A August 14, 2018
• Filing of Income Tax Returns Deadline Extended for AY 2018-19 July 26, 2018
• No Due Date Extension for filing Income Tax – CBDT July 21, 2018
• Linking of PAN with Aadhaar while filing of ITRs – CBDT Circular July 16, 2018
• Long Pending issues & ongoing agitation – Income Tax Employees and Officers’ Associations July 12, 2018
• Filing of Income Tax Returns by Government Employees July 9, 2018
• New Income Tax Forms for AY 2018-19 – CBDT Notification April 5, 2018
• Standard Deduction Applicable for Pensioners – Clarification April 5, 2018
• Dress Code prescribed for Income Tax Employees April 3, 2018
• CPPCs Advised to Issue Form-16 by 31st of May every year – CPAO March 15, 2018
• Exemption of Transport Allowance and Medical Reimbursement from Income Tax – NC JCM Staff Side February 7, 2018
• Employees thank Prime Minister for allowing standard deduction of Rs 40,000 February 2, 2018
• New Scheme for Assessment in Electronic Mode – Finance Minister February 2, 2018
• Exemption of Interest Income on deposits increased to Rs 50,000 to Senior Citizens February 2, 2018
• Relief to Salaried Taxpayers – Standard Deduction of Rs 40,000 Allowed February 2, 2018
• Form 16 Download PDF | Form 16 for Salaried Employees January 11, 2018
• Budget 2018 – Will income tax limit be raised to Rs. 3 or 5 lakhs? January 10, 2018
• No Proposal to Amend Income Tax Rates – Lok Sabha Q&A December 27, 2017
• Arun Jaitley holds his 6th Pre-Budget Consultation Meeting December 11, 2017
• Income Tax Slab Rates for Defence Personnel – FY 2017-18 (AY 2018-19) December 9, 2017
• Income Tax Department suspends an officer for harassing the taxpayer December 8, 2017
• Income Tax Exemption 5 lakhs to Pensioners – Clarification December 8, 2017
• Income Tax : List of Taxable Elements of Pay – PCDA October 30, 2017
• Last date for filing of IT returns extended to August 5, 2017 July 31, 2017
• Income Tax (IT) Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India website May 11, 2017
• ​What are allowances? Are all allowances taxable? – INCOME TAX FAQ February 13, 2017
• CBDT issues Certificates of Appreciation to Tax Payers February 8, 2017
• Tax-exemption to partial withdrawal from National Pension System (NPS) February 4, 2017
• Simple one- page Income Tax Return form – FM February 1, 2017
• Salient Features of Direct Tax Proposals in Union Budget 2017 February 1, 2017
• Budget 2017 : Income tax reduced by 5% for Income upto Rs. 5 lakh February 1, 2017
• Income Tax Rates FY 2016-17 (AY 2017-18) – Finmin Orders January 24, 2017
• Income Tax Ceiling Raised to 7.5 Lakh – AIBEA January 23, 2017
• Clarification of Status of Political Parties under Income Tax Act, 1961 December 17, 2016
• Extension of ​date of ​filing of Income Tax Return throughout India – CBDT July 29, 2016
• Taxable and Non-Taxable Elements of Pay and Allowances July 25, 2016
• Taxpayers account for just about 1% of India’s population May 3, 2016
• Tax benefit available under National Pension System (NPS) – AIRF April 15, 2016
• Request to Taxpayers to Avail Facility for Online Rectification April 2, 2016
• Inclusion of Interest Income in the Return of Income filed by Persons liable to Pay Tax March 23, 2016
• Income Tax benefit available under National Pension System – PFRDA March 22, 2016
• Ration Money Allowance should be exempt from Income Tax – 7th CPC Report March 13, 2016
• Deduction of Income Tax on withdrawal of Provident Fund 60% March 5, 2016
• House Rent Paid : 80GG has also been raised to 60,000 from 24,000 March 1, 2016
• Annual Budget 2016 – Will the income tax slab increase? Or, will it not? February 29, 2016
• Raise Personal Income Tax Exemption Limit to Rs 4 lakh – Assocham February 16, 2016
• Electronic Verification CODE (EVC) for electronically filed Income Tax Return Additional Modes February 1, 2016
• Income Tax Calculation for Interest on Housing Loan and Deduction u/s 80C with illustration January 17, 2016
• Rates of Income Tax as per Finance Act, 2015 – Financial Year 2015-16(AY 2016/17) January 16, 2016
• Issue of IT Refunds of Smaller Amounts January 15, 2016
• Key changes to Mandatory Quoting of Pan Rules of the Income tax Act December 17, 2015
• Setting-up of ‘Taxpayers Lounge’ at the India International Trade Fair (IITF) – 2015 November 13, 2015
• Income Tax Department issued an Advisory on Phishing, Fraudulent Refund E-mail November 5, 2015
• Income Tax Employees Agitation : Suspend the ongoing programme of agitation temporarily for 3 weeks from 04-11-2015 November 4, 2015
• Central Govt setup a committee to simplify the provisions of the Income Tax Rules October 28, 2015
• Claiming of medical expenditure for tax purposes made easy October 14, 2015
• Grand Success of Income Tax Employees Strike held on 8.10.2015 – JCA Circular October 9, 2015
• Income Tax Employees will observe one day strike on 8.10.2015 October 6, 2015
• Circulation of Fake order for extension of due date for filing of Audit report and return of Income for Assessment Year 2015-16 September 28, 2015
• CBDT extends due date for E-filing up to 7.9.2015 September 2, 2015
• Special Counters for Salaried Tax Payers Between 24th August to 31st August, 2015 August 21, 2015
• Tax Benefits to Tourism Industry July 30, 2015
• Taxpayer may verify his return through Internet Banking or through Aadhar based authentication process July 14, 2015
• IT Returns early to avoid the rush closer to the last date of filing – Income Tax Department July 2, 2015
• CBDT Extended the due date of filing return of income for AY 2015-16 from 31st July 2015 to 31st August 2015 June 14, 2015
• Premature Provident Fund withdrawal – Income tax will be imposed June 9, 2015
• Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Taxpayers May 31, 2015
• 10% Tax Proposed on PF Withdrawals April 30, 2015
• Section 80DD of the Income Tax Act – Tax Relief To Family Members of Differently Abled April 24, 2015
• No Change in the Rate of Personal Income Tax and The Rate of Tax for Companies on Income in Financial Year 2015-16 February 28, 2015
• Benefits to Middle Class Tax Payers in the Budget 2015-16 February 28, 2015
• Prime Minister says Budget session of Parliament important as people look at it with lot of hopes February 22, 2015
• NMC urges FM to raise IT exemption limit to Rs 5 lakh, exclude DA from IT calculation, Merge DA in Basic Pay & Pension etc. February 16, 2015
• Expected Potential Relief in Income Tax – 10% Tax on 3 to 10 Lakh January 29, 2015
• Central Trade Unions submits Joint Memorandum including DA Merger and 5 Lakh IT Exemption to Finance Minister January 21, 2015
• Arun Jaitley Against High Income Tax Rate to Raise Revenues January 19, 2015
• Instructions regarding observance of Wednesdays as a ‘Public Meeting Day’ for hearing public grievances January 12, 2015
• Income Tax Rate Chart For AY 2015-16 / FY 2014-15 December 3, 2014
• IT Exemption Slab Could be Raised Further: Fin. Minister Arun Jaitley Informs November 24, 2014
• Income Tax exemption limit may raise further – Finance Minister November 22, 2014
• Amendment in Cadre Restructuring Plan of the Income Tax Department – CBDT Orders October 23, 2014
• Income Tax Exemption Limit Raised by Rs.50,000 – Does it meet the Central Government employees’ expectations? July 16, 2014
• Personal Income Tax Exemption Limit and 80C limit also raised by Rs. 50,000 July 10, 2014
• Budget 2014 – CII suggests raising 80C deductions to Rs. 2.5 Lakhs June 19, 2014
• Central Government is planning to raise the Income Tax exemption slab to Rs. 5 Lakhs June 16, 2014
• General Budget 2014-15: NFIR Presents list of proposals to be considered June 16, 2014
• Raise Income Tax Exemption Slab to Rs. 5 Lakhs: NC JCM Staff Side June 11, 2014
• Income Tax exemption limit should be raised to Rs 5 Lakh: Arun Jaitley April 23, 2014
• Government deductors get relief from fee u/s 234E for late submission of TDS statement March 6, 2014
• Transfer of Non-Gazetted Staff from one charge to another under Central Board of Direct Taxes – Relaxation of conditions February 27, 2014
• Extension of Returns E-Filed with Refund Claims February 27, 2014
• Direct Taxes Code for public discussion February 17, 2014
• No income Tax on Salaried Class – BJP February 17, 2014
• Clarification regarding scope of additional income-tax on distributed Income under section 115R of the Income-tax Act -regarding. February 14, 2014
• Non-Filing of ITR-V in returns with refund claims-relaxation of time-limit for filing ITR-V and processing of such returns -regarding. February 11, 2014
• Government’s Clarification on the Reports that Finance Ministry Pays interest on Excess Tax Refund February 8, 2014
• CBDT Press Release Dated 30.01.2014 on Procedure for PAN Allotment February 1, 2014
• Change in procedure for PAN allotment February 1, 2014
• CBDT Press Release on Change in Procedure for PAN Allotment February 1, 2014
• Save Income Tax on the Contribution made by Government in pension fund of NPS Subscribers… January 20, 2014
• RATES OF INCOME-TAX AS PER FINANCE ACT, 2013 October 18, 2013