Income Tax Amendment For Assessment Year 2020-2021 : PART-2
Tax Rates In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)
Assessment Year 2019-20
Taxable Income | Tax Rate |
Up to Rs. 3,00,000 | Nil |
Rs. 3,00,000 to Rs 5,00,000 | 5% |
Rs. 5,00,000 to Rs. 10,00,000 | 20% |
Above Rs. 10,00,000 | 30% |
Less: Rebate under Section 87A [see Part-1]
Add: Health and Education Cess [see Part-1]
Assessment Year 2020-21
Taxable Income | Tax Rate |
Up to Rs. 3,00,000 | Nil |
Rs. 3,00,000 to Rs 5,00,000 | 5% |
Rs. 5,00,000 to Rs. 10,00,000 | 20% |
Above Rs. 10,00,000 | 30% |
Less: Rebate under Section 87A [see Part-1]
Add: Surcharge and Health & Education Cess [see Part-1]
In case of a resident super senior citizen (who is 80 years or more at any time during the previous year)
Assessment Year 2019-20
Taxable Income | Tax Rate |
Up to Rs. 5,00,000 | Nil |
Rs. 5,00,000 to Rs. 10,00,000 | 20% |
Above Rs. 10,00,000 | 30% |
Add: Surcharge and Education Cess [see Part-1]
Assessment Year 2020-21
Taxable Income | Tax Rate |
Up to Rs. 5,00,000 | Nil |
Rs. 5,00,000 to Rs. 10,00,000 | 20% |
Above Rs. 10,00,000 | 30% |
Add: Surcharge and Health & Education Cess [see Part-1]
Tag:11 commerce, 11th commerce, 12 commerce, 12th commerce, bba, bcom, ca, ca cpt, ca final, ca inter, commerce, commerce achiever, commerce optional, cs, cs final, cs inter, income tax, Income Tax Amendment For Assessment Year 2020-2021, mba, mcom, ugc net, ugc net commerce, ugc net commerce optional, upsc commerce optional, upsc commerce optional paper, upsc commerce optional previous year paper, upsc commerce optional syllabus, upsc optional