• Home
  • 7th Pay Matrix
  • 8th Pay Matrix
  • Pay Calculator
  • DA Table
  • 8th CPC News

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 Slabs and Tax Rate for Assessment Year 2020-2021
Latest 8th CPC News
Salary Calculator Updated 2025
DA January 2026 Calculator
New HRA Rates 2025
Simplified 7th Pay Matrix Table 2025
CG First Pay Calculator

Income Tax Slabs and Tax Rate for Assessment Year 2020-2021

November 18, 2019 admin 1 Comment

Income Tax Slabs and Tax Rate for Financial Year 2019-2020 (Assessment Year 2020-2021)

Income Tax Rate for Financial Year 2019-2020 for Salaried Employees and Officers Working under Government Services

Income Tax Slab for AY 2020-21 PDF Download

Deduction as per Income Tax Rules

As per the Income Tax rules, no tax for the annual earning less than Rs. 2,50,000. All Central Government employees need to file Income Tax Return (ITR) on their income (as on date, the minimum salary of CG employees will be Rs. 23,553) for the Assessment Year 2020-2021.

No rebate of Income Tax u/s 87A, if taxable income marginally exceeds the limit of Rs. 5 Lakh

Income Tax recoveries are to be regulated in respect of every Central Govt employee in the ensuing months by deduction through their pay bills for the month of November 2019 to February 2020.

Check also: Income Tax 2020 Calculator for Salaried (Government) Employees

Income Tax Slabs IT Tax Rates
Income Up to Rs. 2,50,000  NIL
Rs. 2,50,001 to Rs. 5,00,000  5% of the amount by which the total income exceeds Rs. 2,50,000 further subject to rebate under section 87A where applicable.
Rs. 5,00,001 to Rs. 10,00,000 Rs. 12,500 plus 20% of the amount by which the total income exceeds Rs. 5,00,000.
Income above Rs. 10,00,000 Rs. 1,12,500 plus 30% of the amount by which the total income exceeds Rs. 10,00,000.

Surcharge: Nil up to the income of Rs. 50 lakhs (10% of IT in case of income above 50 lakhs and 15% of IT in case of income above 1 Crore)

Health and Education Cess: 4% of Income Tax

Standard Deduction: Standard Deduction u/s 16 (ia) is enhanced to Rs.50,000/- for the Financial Year 2019-20. The benefit of increased standard deduction shall be available to salaried persons and pensioners.

Amendment in rebate u/s 87A: Rebate of Income Tax u/s 87A in case of certain individual where net taxable income is upto Rs.5 Lac (previous year Rs.3.5 Lac), there will be no income tax for the FY 2019-20. Further, if taxable income marginally exceeds the limit of Rs. 5 Lakh, there will be no rebate of Income Tax under this section.

Income from House Property: There is amendment in Sections 23 where tax payer is allowed to opt two house as self-occupied house (earlier it was allowed for only one house) and remaining house(s), if any has to be shown as let out. u/s 24, the tax payer, can now claim interest for both the house. However, the aggregate monetary limit of the deduction would remain the same i.e. Rs.2,00.000/-

Top Latest Developments on Income Tax Rule

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 Tool 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
Income Tax Circular 2019 – TDS on Income from 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
Related updates:

    Income Tax Online Calculator for Salaried (Government) Employees
    Old Regime Vs New Regime Tax Calculator 2023-24 from Income Tax Department
    HRA Income Tax Exemption Calculator for Central Govt Employees

Filed Under: INCOME TAX

Comments

  1. M.K.KUMAR says

    November 21, 2019 at 8:46 am

    All Salary peoples and pensioners may note that current financial year 2019-20 (A.Y.20-21) Income more than Rs.2,50,000/- if they are not saving under 80c of maximum of rs.1,50,000/- they have to pay 5% tax for that amount. Those who are not filing Income tax they will get Standard Deduction of Rs.50,000/- and Rs.1,250/- under 87A Income tax rules. THEY MAY NOT THAT TOTAL NOT FOR Rs.5,00,000/- MORE THAN Rs.5,00,000/- and above as specified in the above under : SLAB OF INCOME TAX.

    Reply

Leave a Reply Cancel reply

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

Latest Updates

Diwali Bonus for Central Government Employees 2025

Pay Scale Conversion Table from 4th to 8th CPC

7th CPC Pension Calculator – 4th, 5th, 6th, and 7th Pay Scale Table

Tamil Nadu RTE 2025 Admission Last Date 19.10.2025

Cabinet Approved 58% DA from July 2025

What is the Hand Salary of 7th Pay Matrix Level 6 in 2025? Full In-Hand Pay Details for CG Employees

PFRDA Recruitment 2025 | Assistant Manager Applications End on 6th August

8th Pay Matrix Basic Salary Table for Level-1

CBSE Date Sheet 2026 for Board Examination Class 10 and Class 12

DA Arrears Calculator July 2025 (58 Percent Updated)

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 2025
  • Dearness Relief (DR) Calculator for Pensioners
  • Expected April 2025 IDA Calculator for BSNL Employees
  • Expected IDA Calculator from April 2025 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

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 VII Pay Fixation Table: Promoted from Level 5 to 6
  • Mushtaq on VII Pay Fixation Table: Promoted from Level 5 to 6
  • M K KUMAR on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
  • Mahesh Prasad Ray on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
  • M K KUMAR on 7th CPC MACP Scheme | Latest Clarification on MACP Scheme
  • M K KUMAR on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
  • Kishan lal on 7th CPC MACP Scheme | Latest Clarification on MACP Scheme
  • admin on Expected DA Calculator July 2025: Cabinet May Approve 58% Soon!
  • Lakshmana C on 7th CPC MACP Pay Fixation on Promotion MACP Calculator 2025
  • M K KUMAR on E-Sampada Portal User Registration, Login and Online Booking Procedure
Copyright © 2023 | Central Government Employees News | 7th Pay Commission News | Instagram | Facebook