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Corporate Law - 2025-01-21 18:44:44
Following table will give you details regarding the Tax Slabs of Salary Individuals for the Tax / Financial year 2020.
Min. Taxable Salary Income | Max. Taxable Salary Income | Income Tax Rate |
---|---|---|
0 | Rs. 600,000 | No Tax |
Rs. 600,000+ | Rs. 1,200,000 | 5% of the amount exceeding 600,000 |
Rs. 1,200,000+ | Rs. 1,800,000 | 30,000 + 5% of the amount exceeding 1,2000,000 |
Rs. 1,800,000+ | Rs. 2,500,000 | 90,000 + 15% of the amount exceeding Rs. 1,800,000 |
Rs. 2,500,000+ | Rs. 3,500,000 | 195,000 + 17.5% of the amount exceeding Rs. 2,500,000. |
Rs. 3,500,000+ | Rs. 5,000,000 | Rs. 370,000 + 20% of the amount exceeding Rs. 3,500,000 |
Rs. 5,000,000+ | Rs. 8,000,000 | Rs. 370,000 + 20% of the amount exceeding Rs. 3,500,000 |
Rs. 8,000,000+ | Rs. 12,000,000 | Rs. 1,345,000 + 25% of the amount exceeding Rs. 8,000,000 |
Rs. 12,000,000+ | Rs. 30,000,000 | Rs. 2,345,000 + 27.5% of the amount exceeding Rs. 12,000,000 |
Rs. 30,000,000+ | Rs. 50,000,000 | Rs. 7,295,000 + 30% of the amount exceeding Rs. 30,000,000 |
Rs. 50,000,000+ | Rs. 75,000,000 | Rs. 13,295,000 + 32.5% of the amount exceeding Rs. 50,000,000 |
Rs. 75,000,000+ | Rs. 21,420,000 + 35% of the amount exceeding Rs. 75,000,000 |
Following are some of the Income Tax Calculators available online: