Income Tax Slabs for
individuals below 60 years of age under new tax For FY 2020-21
|
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Income Tax Slab
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Tax Rate
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Up to Rs 2.5 lakh
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NIL
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Rs 2.5 lakh to Rs 5 lakh
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5% (Tax rebate of Rs 12,500 available under section 87A)
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Rs 5 lakh to Rs 7.5 lakh
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10%
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Rs 7.5 lakh to Rs 10 lakh
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15%
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Rs 10 lakh to Rs 12.5 lakh
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20%
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Rs 12.5 lakh to Rs 15 lakh
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25%
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Rs 15 lakh and above
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30%
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