Additionally, individuals can also claim deductions for tax-saving investments as dictated under Section 80C to 80U. The following are the income tax slab rates for individuals below the age of 60: Income Range Tax rate Tax to be paid Up to Rs.2,50,000 0 No tax applicable Rs 2.5 lakhs ...
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The table below gives the tax slab rates: Income Tax Slab for HUFs & Individuals (below 60 years – for both Men & Women) New Simple Tax Slab without exemption: Income SlabTax Rate Income up to Rs 2,50,000No Tax Income from Rs 2,50,000 – 5,00,...
As per section 192 (1) of the Act, any person responsible for paying any income chargeable under the head "Salaries" shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rat...
Income Tax Slabs & Rates (FY 2021-22) Income Tax Slab for Individuals Under 60 years Income Tax Slab Rates Between 60-80 years Income Tax Slab Rate for Individuals Above 80 years Non-Resident Individuals (NRI) Income Tax Slab Rates
Income Tax Slab Rate for Individuals Above 80 years For the fiscal year 2020-21 (AY 2021-22), non-residents will be able to choose from a number of different income slabs. Option Category 1 Option Category 2 Old Income Tax Slab New Tax Regime Upto Rs. 5,00,000 Nil Up to Rs. 2,50...
Here are the 2024 and 2025 tax brackets and federal income tax rates. Plus, learn how to find your marginal tax rate and effective tax rate.
In any case, if you failed to file income tax returns on or before the deadline, you would be required to pay interest at the rate of 1% for each month, or part of a month, on the amount of unpaid tax according to section 234A. Carry Forward of Losses are not allowed If you fac...
Delhi HC imposes a ₹340 crore penalty for Trademark Infringement! Secure your brand! Published on:03-Mar-2025 Trademark Presumptive tax filers must report prescribed rate or actual profit, whichever is higher! Published on:17-Feb-2025
You can find all about Filing Income Tax Return (ITR) atHow to file ITR Income Tax Return, Process, Income Tax Notices The income earned between 1 Apr 2020 to 31 Mar 2021, called FY 2020-21, will be assessed for tax in the AY 2021-22 The last date for filing returns is 31 Dec ...