Assessment Year = 2021 - 2022
Previous / Financial Year = 2020 - 2021
Total Income Rs. 1,500,000/- (rounded off)
Tax as applicable to:
General Rate - Individuals or HUF, AOP or BOI
Tax Rs. | Rebate Rs. | Tax minus> Rebate = Rs. | Surcharge Rs. | Total Tax Rs. | 262,500/- | 0 | 262,500/- | 0/- | 262,500/- | | | Add E. Cess (Rs.) | 10,500/- | | | Total Tax Liability (Rs.) | 273,000/- |
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Special Rate of Tax u/s 115BAC
Tax Rs. | Rebate Rs. | Tax minus> Rebate = Rs. | Surcharge Rs. | Total Tax Rs. | 75,000/- | 0 | 75,000/- | 0/- | 75,000/- | | | Add E. Cess (Rs.) | 3,000/- | | | Total Tax Liability (Rs.) | 78,000/- |
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Individuals or Hindu undivided family or association of persons or body of individuals [General Rate] | Income Tax Rates for the Assessment Year 2021 - 2022 | i.e. Previous / Financial Year 2020 - 2021 | Sr. No. | Tax Slab | Rate | Tax | 1. | Upto Rs. 250,000 | Nil | Nil | 2. | From Rs. 250,001 To Rs. 500,000 | 5% | 5 per cent of the amount by which the total income exceeds Rs. 250,000 | 3. | From Rs. 500,001 To Rs. 1,000,000 | 20% | Rs. 12,500 plus 20 per cent of the amount by which the total income exceeds Rs. 500,000 | 4. | From Rs. 1,000,001 and Above | 30% | Rs. 112,500 plus 30 per cent of the amount by which the total income exceeds Rs. 1,000,000 | | Rebate - Upto Rs. | 12,500 | If total income is not exceeding Rs. 500,000 | | Surcharge | 10% | If total income is exceeding Rs. 5,000,000 - with marginal relief | | Surcharge | 15% | If total income is exceeding Rs. 10,000,000 - with marginal relief | | Surcharge | 25% | If total income is exceeding Rs. 20,000,000 - with marginal relief | | Surcharge | 37% | If total income is exceeding Rs. 50,000,000 - with marginal relief | | Education Cess | 4% | |
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Senior Citizens (Resident in India) who is of the age of 60 years or more during the previous / financial year | Income Tax Rates for the Assessment Year 2021 - 2022 | i.e. Previous / Financial Year 2020 - 2021 | Sr. No. | Tax Slab | Rate | Tax | 1. | Upto Rs. 300,000 | Nil | Nil | 2. | From Rs. 300,001 To Rs. 500,000 | 5% | 5 per cent of the amount by which the total income exceeds Rs. 300,000 | 3. | From Rs. 500,001 To Rs. 1,000,000 | 20% | Rs. 10,000 plus 20 per cent of the amount by which the total income exceeds Rs. 500,000 | 4. | From Rs. 1,000,001 and Above | 30% | Rs. 110,000 plus 30 per cent of the amount by which the total income exceeds Rs. 1,000,000 | | Rebate - Upto Rs. | 12,500 | If total income is not exceeding Rs. 500,000 | | Surcharge | 10% | If total income is exceeding Rs. 5,000,000 - with marginal relief | | Surcharge | 15% | If total income is exceeding Rs. 10,000,000 - with marginal relief | | Surcharge | 25% | If total income is exceeding Rs. 20,000,000 - with marginal relief | | Surcharge | 37% | If total income is exceeding Rs. 50,000,000 - with marginal relief | | Education Cess | 4% | |
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Super Senior Citizens (Resident in India) who is of the age of 80 years or more during the previous / financial year | Income Tax Rates for the Assessment Year 2021 - 2022 | i.e. Previous / Financial Year 2020 - 2021 | Sr. No. | Tax Slab | Rate | Tax | 1. | Upto Rs. 500,000 | Nil | Nil | 2. | From Rs. 500,001 To Rs. 1,000,000 | 20% | 20 per cent of the amount by which the total income exceeds Rs. 500,000 | 3. | From Rs. 1,000,001 and Above | 30% | Rs. 100,000 plus 30 per cent of the amount by which the total income exceeds Rs. 1,000,000 | | Rebate - Upto Rs. | 12,500 | If total income is not exceeding Rs. 500,000 | | Surcharge | 10% | If total income is exceeding Rs. 5,000,000 - with marginal relief | | Surcharge | 15% | If total income is exceeding Rs. 10,000,000 - with marginal relief | | Surcharge | 25% | If total income is exceeding Rs. 20,000,000 - with marginal relief | | Surcharge | 37% | If total income is exceeding Rs. 50,000,000 - with marginal relief | | Education Cess | 4% | |
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Special Rate of Tax u/s 115BAC | Income Tax Rates for the Assessment Year 2021 - 2022 | i.e. Previous / Financial Year 2020 - 2021 | Sr. No. | Tax Slab | Rate | Tax | 1. | Upto Rs. 250,000 | Nil | Nil | 2. | From Rs. 250,001 To Rs. 500,000 | 5% | 5 per cent of the amount by which the total income exceeds Rs. 250,000 | 3. | From Rs. 500,001 To Rs. 750,000 | 10% | Rs. 12,500 plus 10 per cent of the amount by which the total income exceeds Rs. 500,000 | 4. | From Rs. 750,001 To Rs. 1,000,000 | 15% | Rs. 37,500 plus 15 per cent of the amount by which the total income exceeds Rs. 750,000 | 5. | From Rs. 1,000,001 To Rs. 1,250,000 | 20% | Rs. 75,000 plus 20 per cent of the amount by which the total income exceeds Rs. 1,000,000 | 6. | From Rs. 1,250,001 and Above | 25% | Rs. 12,500 plus 25 per cent of the amount by which the total income exceeds Rs. 1,250,000 | 7. | From Rs. 1,500,001 and Above | 30% | Rs. 187,500 plus 30 per cent of the amount by which the total income exceeds Rs. 1,500,000 | | Rebate - Upto Rs. | 12,500 | If total income is not exceeding Rs. 500,000 | | Surcharge | 10% | If total income is exceeding Rs. 5,000,000 - with marginal relief | | Surcharge | 15% | If total income is exceeding Rs. 10,000,000 - with marginal relief | | Surcharge | 25% | If total income is exceeding Rs. 20,000,000 - with marginal relief | | Surcharge | 37% | If total income is exceeding Rs. 50,000,000 - with marginal relief | | Education Cess | 4% | |
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