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mkg
Beginner
Asked: In:

  1. CA Manish Kumar Gupta Enlightened
    This answer was edited.

    Hi, You mean the tax slab for the assessment year 2021-22 or say Income tax slab for the financial year 2020-21. Income Tax slab for Individual Below 60 years, HUF and NRI Income Old Regime New Regime  Up to 2.5 Lakh NIL NIL 2.5 Lakh to 5 Lakh 5% 5% 5 Lakh to 7.5 Lakh 20% 10% 7.5 Lakh to 10 Lakh 20%Read more

    Hi,

    You mean the tax slab for the assessment year 2021-22 or say Income tax slab for the financial year 2020-21.

    1. Income Tax slab for Individual Below 60 years, HUF and NRI
    Income Old Regime New Regime
     Up to 2.5 Lakh NIL NIL
    2.5 Lakh to 5 Lakh 5% 5%
    5 Lakh to 7.5 Lakh 20% 10%
    7.5 Lakh to 10 Lakh 20% 15%
    10 Lakh to 12.5 Lakh 30% 20%
    12.5 Lakh to 15 Lakh 30% 25%
    above15 Lakh 30% 30%

    2. For Individual 60 years but less than 80 years

    Income Old Regime New Regime
     Up to 2.5 Lakh NIL NIL
    2.5 Lakh to 3 Lakh NIL 5%
    3 Lakh to 5 Lakh 5% 5%
    5 Lakh to 7.5 Lakh 20% 10%
    7.5 Lakh to 10 Lakh 20% 15%
    10 Lakh to 12.5 Lakh 30% 20%
    12.5 Lakh to 15 Lakh 30% 25%
    above 15 Lakh 30% 30%

    3. For Individual 80 years and above

    Income Old Regime New Regime
     Up to 2.5 Lakh NIL NIL
    2.5 Lakh to 3 Lakh NIL 5%
    3 Lakh to 5 Lakh NIL 5%
    5 Lakh to 7.5 Lakh 20% 10%
    7.5 Lakh to 10 Lakh 20% 15%
    10 Lakh to 12.5 Lakh 30% 20%
    12.5 Lakh to 15 Lakh 30% 25%
    above 15 Lakh 30% 30%

     

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mkg
Beginner
Asked: In:

  1. CA Manish Kumar Gupta Enlightened

    Income Tax exemption limit for the below three categories of the individual taxpayer for the Assessment Year 2021-22 is as follows: Taxpayer Income Exemption Limit in old regime  Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh  Indian Resident 60 years but less than 80 years  URead more

    Income Tax exemption limit for the below three categories of the individual taxpayer for the Assessment Year 2021-22 is as follows:

    Taxpayer Income Exemption Limit in old regime
     Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh
     Indian Resident 60 years but less than 80 years  Up to Rs 3 Lakh
     Individual 80 years and above  Up to Rs 5 Lakh

     

    Taxpayer Income Exemption Limit in New regime
     Indian Resident below 60 years of age, Huf and NRI  Up to Rs 2.5 Lakh
     Indian Resident 60 years but less than 80 years  Up to Rs 2.5 Lakh
     Individual 80 years and above  Up to Rs 2.5 Lakh

     

     

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    • 6