Income Tax Slabs & Tax Rate Financial year 2019-2020
Income Tax Slabs & Tax Rate Financial year 2019-2020
| Income Tax Slab | Tax Rate for Individual & HUF Below the Age Of 60 Years |
|---|---|
| Up to ₹2,50,000* | Nil |
| ₹2,50,001 to ₹5,00,000 | 5% of total income exceeding ₹2,50,000 |
| ₹5,00,001 to ₹10,00,000 | ₹12,500 + 20% of total income exceeding ₹5,00,000 |
| Above ₹10,00,000 | ₹1,12,500 + 30% of total income exceeding ₹10,00,000 |
- No tax for individuals with income less than ₹ 2,50,000
- 0%-5% tax with income ₹ 2.5 lacs to 5 lacs for different age groups
- 20% tax with income ₹ 5 lacs to 10 lacs
- 30% tax with income above ₹ 10 lacs
- Investments upto ₹ 1.5 lacs under Sec 80C can save ₹ 46,800 in taxes
Income Tax Slabs & Tax Rate Financial year 2019-2020
![Income Tax Slabs & Tax Rate Financial year 2019-2020]()
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26.1.20
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