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 for AOP, BOI, Artificial Juridical Person Income Tax Slab for Co-operative Society ...
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 Slab Tax Rate Income up to Rs 2,50,000 No Tax Income from Rs 2,50,000 – 5,00...
To minimise your taxable income, you could claim tax exemptions on HRA and LTA, as well as deductions under other sections, such as Section 80C, 80D, and 80TTA under the old tax regime. Income SlabsIncome Tax Slab Rates for Individuals and HUFs Below 60 YearsIncome Tax Slab Rates for Sen...
Income Tax slab changes under general category of Individuals in Budget 2015-16 Indian Union Budget is being declared on 28thFebruary, 2015. Indian citizens expect a hike in income tax limit from last year figure, based on inflation rate of 2014-15 and other parameters. What would be the rat...
Income tax slab rates are decided and governed by Income Tax Act 1961 and are subject to change every year. Here are the income tax slab rates for the Financial
Note:As per the income tax slab, there is no tax for individuals having income upto INR 5 lakh post all eligible deductions. If it goes beyond, tax rates will apply. What is the Income Tax Slab Rate for FY 2023-24? To figure out the income tax on your salary, start by looking at...
In a nutshell, Income tax is a permanent source of income for the government. Also, it encourages savings and investment among people. Further, it removes disparities between the haves and have nots and fills the gap between the two. And that is why we use slab rates. ...
The income tax slab rates can be broadly classified as: New Income Tax Slab Rates for FY 2018-19 (AY 2019-20) Slab of Income tax for individual tax payers & HUF who are less than 60 years old Income SlabTax Rate Income up to Rs. 2,50,000* No Tax Income from Rs. 2,50,000 –...
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: Note:There is a common misconception that income tax is charged on the total income earned by an...
Exemption limit for gratuity is increased from Rs. 20,00,000 to Rs. 30,00,000. Tax rates for Multiple Income Slabs (Individuals below 60 years, Senior and Super Senior Citizens) Annual Income Range Tax Rates(For taxpayers below 60 years of age) Up to Rs. 2,50,000 Nil Rs. 2,50,000...